Emerson Electric to buy NI Corp for $8.2 billion (updated)
12/04/2023 13:13
(Adds details)
April 12 (Reuters) - U.S. industrial and software firm
Emerson Electric Co EMR.N on Wednesday said it would buy
measurement equipment maker NI Corp NATI.O for $60 per share
in cash, giving the deal an equity value of $8.2 billion.
The deal represents a premium of 14.11% to National's last
close on Tuesday.
Texas-based NI, formerly known as National Instruments,
specializes in making automated testing and measurement tools to
aid in research and validation of new technologies.
Reuters reported on Tuesday that Emerson was in advanced
talks to acquire NI, which serves the semiconductor,
transportation, aerospace and defense industries.
Last month, NI decided that Fortive Corp FTV.N and
Keysight Technologies Inc KEYS.N have the potential to top
Emerson's prior $7 billion bid, Reuters had reported, citing
three people familiar with the matter.
(Reporting by Nathan Gomes in Bengaluru; Editing by Savio
D'Souza)
((Nathan.Gomes@thomsonreuters.com;))