ABB cancels bond swap offer after asbestos ruling

ZURICH, Dec 6 (Reuters) - ABB (ABBN.VX: Quote, Profile, Research) has cancelled an offer to exchange two of its existing bonds for a new fixed-rate bond after a U.S. court last week rejected the Swiss engineering group's proposal to settle potentially ruinous asbestos claims.

News Source: Reuters | Published: December 6, 2004 | Read Full Story

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