NI jumps after $7.6 bln bid from Emerson

SIOS

17/01/2023 12:11

(Updates)
    ** Shares of software company NI Corp's  NATI.O  up 12.67%
at $52.92 in premarket trade
    ** Emerson Electric Co  EMR.N  offers to buy co in deal with
an enterprise value of $7.6 bln
    ** EMR's $53/shr bid represents a premium of about 13% to
NI's close of $46.97/shr on Friday
    ** Industrial and software firm EMR has been streamlining
operations over past few years to capitalize on demand in the
automation sector
    ** Reuters reported NI is exploring strategic options,
including a sale, amid interest from potential suitors
    ** NATI stock lost 15.59% in 2022
 (Reporting by Pratyush Thakur in Bengaluru)
 ((pratyush.thakur@thomsonreuters.com))