KEYS - National Instruments sale process likely to be completed in early April - report
2023-03-21 10:33:44 ET
- National Instruments ( NASDAQ: NATI ) sale process is expected to be wrapped up by early April and Emerson ( EMR ) is more likely to be the winning bidder. NATI ticked up 0.7%, Emerson ( EMR ) rose 2.7%.
- Keysight ( KEYS ) is a potential buyer, though it may have some antitrust issues, according to CNBC's David Faber. Keysight ( KEYS ) may offer a higher price for National Instruments, though the Emerson ( EMR ) offer is likely better due to risks of antitrust concerns with Keysight.
- National Instruments ( NATI ) decided that Fortive ( FTV ) and Keysight ( KEYS ) are poised to outbid Emerson Electric ( EMR ) in its $7 billion offer for the maker of measurement equipment, Reuters reported earlier this month. NATI notified Emerson ( EMR ), Fortive ( FTV ) and Keysight ( KEYS ) that their buyout offers were enough to qualify for a second round of bids.
- The amount of those first-round offers isn’t publicly available. Emerson ( EMR ) had offered $53 a share in cash for National Instruments ( NATI ).
- Earlier Tuesday Emerson Electric ( EMR ) was upgraded to overweight at Morgan Stanley amid NATI deal win-win bid outcome.
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National Instruments sale process likely to be completed in early April - report