Hitachi buys ABB power grids for $6.4bn in its biggest deal 
Japanese conglomerate Hitachi on Monday announced plans to purchase 80.1% of Swiss engineering giant ABB's power grid business for $6.4 billion, in its biggest-ever deal. ABB will keep the remaining stake and return around $7.6 billion to investors through buyback or other measures. The acquisition will see Hitachi become one of the largest players in power grid industry.