ABB's Pending Acquisition of Baldor Electric Receives U.S. Antitrust Clearance

ABB Ltd

and Baldor Electric Company

announced today that the Antitrust Division of the United States Department of Justice has cleared ABB's proposed acquisition of Baldor pursuant to a cash tender offer for all of the outstanding shares of common stock of Baldor at a price of $63.50 per share net to the holder in cash, without interest and less any required withholding taxes.