EMR - Why Shares in National Instruments Soared This Week
2023-04-13 12:50:53 ET
Shares in software-connected automated test and measurement company National Instruments , or NI (NASDAQ: NATI) , rose more than 10% in the week to Thursday morning, according to S&P Global Market Intelligence .
There are no prizes for guessing the reason for the move. On Wednesday, NI's suitor, Emerson Electric (NYSE: EMR) , announced it had reached a definitive agreement to acquire the company for $60 per share in cash, valuing the company at $8.2 billion.
As previously discussed , Emerson Electric was the likely winner out of the bidding process. It operates in one of the four key markets (industrial software, factory automation, smart grid solutions, and test & measurement, where NI comes in) that Emerson is targeting as its CEO, Lal Karsanbhai, restructures the company toward becoming a pure-play automation company .
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Why Shares in National Instruments Soared This Week