updated 12/2/2010 5:47:08 PM ET 2010-12-02T22:47:08

OKLAHOMA CITY, Dec. 2, 2010 (GLOBE NEWSWIRE) -- The law firm of Federman & Sherwood has launched an investigation into Baldor Electric Company (NYSE:BEZ) with respect to possible breaches of fiduciary duty by the company's officers and directors, as well as violations of state law in connection with its proposed sale and merger with ABB Ltd (NYSE:ABB).

Under the proposed terms of the merger (which has been approved by the Board of Directors of both companies), ABB would pay $63.50 per share in cash to purchase all of Baldor's outstanding shares. This offer/merger is expected to be finalized in December and close in the first quarter of 2011. Federman & Sherwood is investigating whether the proposed merger offers adequate value to the Company's shareholders.

If you own common stock in Baldor Electric Company and wish to discuss this action, or have any questions or concerns regarding this notice, or preservation of your rights, please contact our firm. Federman & Sherwood has extensive experience representing investors in securities, derivative and merger-related shareholder class actions.

CONTACT:  Federman & Sherwood 
          William B. Federman
          (405) 235-1560
          10205 North Pennsylvania Avenue
          Oklahoma City, OK 73120

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