Deals
Emerson Boosts Revamp With $3.15 Billion Pentair Valves Deal
- Controls business serves chemical, mining, energy customers
- Purchase follows Emerson’s recent asset sales of $5.2 billion
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Emerson Electric Co. agreed to buy Pentair Plc’s valves and controls business for $3.15 billion in cash, broadening its focus on industrial automation under a year-old plan to overhaul operations.
The unit will complement Emerson’s existing valve and actuation business and lead to cost savings, Chief Executive Officer David Farr said on a conference call Thursday. The Pentair unit serves customers across the chemical, power, mining and oil and gas industries.