U.S. industrial and software firm Emerson Electric Co on Tuesday made public its offer to buy NI Corp in a deal with an enterprise value of $7.6 billion after the automated testing equipment maker rebuffed earlier approaches.
in a deal with an enterprise value of $7.6 billion after the automated testing equipment maker rebuffed earlier approaches.
Emerson has been involved in a string of deals over the last few years to pivot itself as a provider of automation products and services and the offer to buy NI is a fresh multi billion-dollar bet in that direction. The equity value of the offer is $6.92 billion, excluding debt. Emerson said the offer was not subject to any financing conditions.
NI did not immediately respond to a request for comment. Emerson said NI has not engaged 'meaningfully' since its bid of $53 per share was made privately in November. Emerson's first outreach to NI was in May 2022 when it offered $48 per share.
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