Market review: Sic Transit Gloria Dux

Sa？etak In the third quarter of 1987 simultaneous announcements in Sweden and Switzerland made public the news that an agreement had been concluded which would see the merger of Asea AB and BBC Brown Boveri Ltd to form the new company ABB. Headquartered in Zurich, Switzerland each parent company held 50 percent of the new company and operations began on January 5, 1988. Over the next two years ABB acquired about 55 companies