Emerson Electric Co (EMR.N) of the United States announced on Wednesday that it would acquire measurement equipment company NI Corp (NATI.O) for $60 per share in cash, for a total equity value of $8.2 billion. The transaction reflects a 14.11% premium to National’s last closing on Tuesday.
Texas-based NI, formerly known as National Instruments, specializes in producing automated testing and measuring instruments to help in the research and validation of new technologies. On Tuesday Emerson was in advanced discussions to purchase NI, which services the semiconductor, transportation, aerospace, and defense industries.
Last month, NI judged that Fortive Corp (FTV.N) and Keysight Technologies Inc (KEYS.N) have the potential to beat Emerson’s earlier $7 billion deal reported, citing three people familiar with the situation.
