Emerson Electric buys instrumentation maker NI for $8.2 billion
[ad_1]
Today, April 12, the American industrial conglomerate Emerson Electric announced the acquisition of instrumentation manufacturer National Instruments (NI). The deal is valued at $8.2 billion. Emerson will pay NI shareholders $60 a share, giving a 14.1% premium over Tuesday’s price.
NI specializes in the production of various measuring instruments, automated testing systems, etc., such devices are used to automate production. The company’s revenue last year amounted to $1.7 billion, it has about 35 thousand corporate clients in more than 40 countries.
Recently, Emerson has decided to focus primarily on automation systems. Last year he sold majority stake in its heating and cooling products and services division of investment firm Blackstone for $9.9 billion. Emerson said the current deal should improve the profitability of its portfolio of various automation systems and ultimately help the company’s growth.
Shares of Emerson fell 2% on Tuesday, while NI rose nearly 10%. NI shares are up 55% since January, when the company first announced it was looking for a buyer.
[ad_2]
Source link