American Superconductor Jumps; Rumor Of ABB Bid - Eric Savitz (Barron's)

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American Superconductor Jumps; Rumor Of ABB Bid
Oct 09, 2009 03:26 PM UTC

Eric Savitz (Barron's)

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Symbol	Sentiment	Start	Return	Closed
ABB	n/a
GE	n/a
AMSC	n/a

Via BARRONS.com: Tech Trader Daily - Barron's Online:

And the rumor mill rolls on.

American Superconductor (AMSC) shares are getting a lift today from rumors that the company might be a takeover target for ABB (ABB) , the Swiss utility construction company formerly called Asea Brown Boveri. I suppose that makes sense on the surface; AMSC designs wind turbine systems, provides “smart grid” technology and sells electrical control systems. TheFlyOnTheWall.com says the rumor is that ABB will bid $47 a share. TheFly notes that last month there were rumors of a bid from General Electric (GE).

AMSC today is up $1.20, or 3.8%, to $32.57.

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