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Emerson Goes Public With $7 Billion National Instruments Bid

  • Industrial company reveals takeover offer of $53/share
  • Emerson builds NI stake, ready to nominate directors to board
Updated on

Emerson Electric Co. went public with its months-long pursuit of National Instruments Corp., revealing a bid to take over the maker of measurement systems for about $7 billion.

St. Louis, Missouri-based Emerson made a cash bid of $53 per share in November, it said in a statement Tuesday, confirming an earlier Bloomberg News report. The latest bid was an improvement on an earlier proposal of $48 per share made in May, it said.