EMR - National Instruments jumps on $8.2B acquisition by Emerson

2023-04-12 08:26:10 ET

National Instruments ( NASDAQ: NATI ) shares rose 8.6% premarket trading on Wednesday with the joint announcement that Emerson ( NYSE: EMR ) is buying the maker of industrial electronics for $60 a share in cash for a total value of $8.2 billion.

"With this expansion into test and measurement, Emerson will enhance its automation capabilities and gain a broader set of customers that relies on NI's solutions at critical points along the product development cycle,” Lal Karsanbhai, president and CEO of Emerson ( EMR ), said in a statement.

The deal marks the latest step in Emerson’s ( EMR ) efforts to acquire National Instruments ( NATI ) after prior bids were rebuffed. Emerson ( EMR ) offered $53 a share in cash for National Instruments ( NATI ) in January after the company disclosed that it was evaluating bids after other potential acquirers had approached it.

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