Emerson Electric (EMR) Misses Q3 EPS by 4c
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Emerson to Sell Leroy-Somer and Control Techniques Businesses to Nidec Corporation
August 2, 2016 6:35 AM EDTST. LOUIS--(BUSINESS WIRE)-- Emerson (NYSE: EMR) today announced that it has agreed to sell its Leroy-Somer and Control Techniques business units to Nidec Corporation. The transaction is valued at $1.2 billion and is expected to close by December 31, 2016, subject to regulatory approvals. The proceeds will strengthen Emersons balance sheet providing increased capacity for strategic investment.
The Leroy-Somer and Control Techniques management teams and product leadership positions will provide a strong foundation for continued success under Nidecs ownership, said Chairman and Chief Executive Officer David N. Farr. This announcement represents another step in our... More
Emerson Reaches Agreement to Sell Network Power for $4 Billion to Platinum Equity
August 2, 2016 6:30 AM EDTTransaction is a significant step in the previously announced strategic portfolio repositioning; Cash proceeds strengthen balance sheet and provide increased financial flexibility
ST. LOUIS--(BUSINESS WIRE)-- Emerson (NYSE: EMR) today announced an agreement to sell Network Power to Platinum Equity and a group of co-investors. The transaction is valued at $4 billion and Emerson will retain a subordinated interest in Network Power. The sale of Network Power is expected to close by December 31, 2016, subject to customary regulatory approvals.
This agreement marks a major milestone in the strategic portfolio... More
