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Siemens Said Among Parties Interested in Emerson Power Unit

  • Emerson said to also get inquiries from private equity firms
  • St. Louis-based firm has considered network power unit spinoff
Updated on

Siemens AG, Europe’s biggest engineering company, is among parties that have expressed preliminary interest in Emerson Electric Co.’s network power division, according to people familiar with the matter.

Emerson, which is exploring a spinoff of the unit, has fielded inquiries from the German industrial company and buyout firms, said the people, who asked not to be identified because the discussions are private. No final decisions have been made, Siemens may decide against pursuing a deal and St. Louis-based Emerson could still go ahead with a spinoff instead of a sale, the people said. It couldn’t be confirmed whether talks are ongoing.