© Reuters. Emerson Electric (EMR) offers $7.6 billion to buy National Instruments (NATI)
By Senad Karaahmetovic
Emerson Electric (NYSE:) announced today it made an offer to buy National Instruments (NASDAQ:) in a deal that values the business at $7.6 billion.
Emerson’s offer is based on $53 per share in cash, an improvement of about 10% to the initial $48 per share proposal submitted last May. The new offer represents a 32% premium to the closing share price as of January 12.
“Although Emerson would have preferred to reach an agreement privately, given NI’s announcement that it is undertaking a strategic review, and after refusing to work with us toward a premium cash transaction over the past eight months, we are making our interest public for the benefit of all NI shareholders,” CEO Lal Karsanbhai said in a press release.
Karsanbhai added that EMR is…