Emerson To Acquire NI At Equity Value Of $8.2 Bln - Quick Facts

(RTTNews) - Emerson (EMR) and NI (NATI) have entered into a definitive agreement under which Emerson will acquire NI for $60 per share in cash at an equity value of $8.2 billion. Emerson already owns approximately 2.3 million shares of NI, representing approximately 2% of shares outstanding, which were acquired at a weighted average price of $36.84. The effective per share purchase price is $59.61. NI shareholders will receive $60 per share in cash.

In February, Emerson provided continuing operations second quarter underlying sales growth guidance of 8%-10% and adjusted earnings per share guidance of $0.95-$1.00. The company reaffirmed the guidance.

Emerson said the acquisition is expected to be immediately accretive to adjusted EPS and long-term financial targets outlined at 2022 Investor Conference.