Billion dollar beefEmerson Electric is once again making moves to acquire National Instruments, after already having been rejected.
- Industrial and software firm Emerson Electric has made a hostile offer of $6.9bn to acquire automated testing equipment manufacturer National Instruments. At $53 per share, the offer value is at a roughly 13% premium to NI’s closing share price last Friday.
- The offer caused National Instruments’ share price to shoot upwards by more than 10% yesterday. Shares in Emerson on the other hand fell by almost 7% on Tuesday. The offer’s part of Emerson’s plan to pivot to the production of automation products.
- Emerson Electric already attempted to acquire the company with a $43-per-share bid in November last year, but National Instruments said they were exploring alternative acquisition offers made by other companies. We know Emerson – rejection hurts.
Raysonho / Wikimedia Commons
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