10:24 AM EDT, 05/27/2025 (MT Newswires) -- Bank of America ( BAC ) and UBS Group ( UBS ) were chosen by ABB to arrange a potential deal for its robotics unit, Bloomberg reported Tuesday, citing people familiar with the matter.

The banks are assisting ABB to prepare a spinoff or sale of the robotics business, and more banks may be added later, the report said.

The robotics unit may be worth more than $3.5 billion, Bloomberg reported earlier this month, citing people familiar with the matter.

Bank of America ( BAC ), UBS and ABB declined to comment, Bloomberg said Tuesday.

ABB and the banks didn't immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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