2023-07-07 09:39:48 ET
National Instruments ( NASDAQ: NATI ) fell almost 1% amid a report that it filed for a standard review in China for its planned sale to Emerson ( NYSE: EMR ).
The $8.2 billion sale to Emerson ( EMR ) was filed under normal procedure after previously being filed under a simplified plan, according to a report circulating among traders on Friday. There appear to be concerns about the deal's possible impact on NATI's ability to continue to supply the Chinese market, especially with recent export control rules.
The latest update on China's review of the deal comes after a report circulated last month that the transaction was filed under simplified procedure before China's State Administration for Market Regulator. Since National Instruments' ( NATI ) products are used in semiconductor tests, the deal may see scrutiny from third parties over issues including market supply.
Emerson ( EMR ) agreed to buy National Instruments ( NATI ), a maker of industrial electronics , for $60 a share in cash for a total value of $8.2 billion in April.
Last Thursday, National Instruments ( NATI ) holders voted to approve the sale to Emerson ( EMR ).
More on National Instruments/Emerson
- Emerson Electric Co.: The Development Of NI Will Be Key To Watch
- Emerson Electric: The Coming Years Will Show The Effectiveness Of The Acquisitions
- National Instruments' M&A Deal: Little Risk, And Acceptable Spread
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National Instruments dips amid report of China normal procedure filing for Emerson