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Emerson Electric And National Instruments Are Close To A $8 Billion Agreement: Reports

Emerson Electric And National Instruments Are Close To A $8 Billion Agreement: Reports
People familiar with the situation said on Tuesday that industrial behemoth Emerson Electric  is in advanced talks to buy National Instruments Corp. in a deal that could value the manufacturer of measuring equipment at roughly $8 billion.
With an offer of around $60 per share for National Instruments, Emerson beat out competing businesses including Fortive Corp and Keysight Technologies Inc (KEYS.N), according to the sources.
According to the sources, the agreement may be declared as soon as this week, but they issued a warning that the negotiations might collapse at the last minute. The sources asked to remain anonymous because these discussions are private.
Requests for comment from National Instruments, Emerson, Fortive, and Keysight spokespeople were not immediately fulfilled.
In January, National Instruments started a formal selling process after Emerson threatened to sue the company's board if it did not start talks on a merger. As soon as the auction for National Instruments began, Emerson withdrawn its hostile bid.
After breaking the news of Emerson's interest in January, Reuters first reported in March that Emerson, Fortive, and Keysight had advanced to the final round of bidding for National Instruments.
National Instruments, situated in Austin, Texas, is a company that produces automated testing and measurement equipment for the semiconductor, transportation, aerospace, and defense sectors.
Over the past few years, Emerson has engaged in a number of transactions to transform into a supplier of goods and services for industrial automation. In a deal estimated at $14 billion last year, it sold Blackstone Inc a majority share in its climate technologies division.

Christopher J. Mitchell

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