ABB CEO nixes Rockwell acquisition rumors in Reuters report

This Reuters article says ABB CEO Joe Hogan told Germany's Handelsblatt newspaper that the rumors about ABB's intentions to acquire Rockwell Automation are untrue. The article also said ABB has budgeted "between $9 billion and $18 billion for acquisitions over a five-year period from 2011." ABB made headlines in the electrical market over the past two years with its acquisitions of Baldor Electric and software firm Ventyx.