Emerson Electric Co (EMR.N) will sell a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that values it at $14 billion,Emerson Electric Co (EMR.N)
the latest revamp by the U.S. industrial firm as it focuses on the booming automation market. the latest revamp by the U.S. industrial firm as it focuses on the booming automati
The company said on Monday it will receive an upfront payment of about $9.5 billion, which it will use to scoop up more companies, especially in the automation segment.
Emerson's shares rose about 3.8% before the bell as the company also beat fourth-quarter earnings and revenue.Emerson's shares rose about 3.8% before the bell as the company also b
The company is accelerating its software strategy to capture the increasing shift among businesses to automate their operations as they struggle with a shortage of factory workers.
It sold its unit that makes waste disposal equipment and hot water dispensers to Whirlpool Corp (WHR.N) and merged its software units with smaller rival Aspen Technology (AZPN.O).I
Emerson, which will retain about 45% stake in the climate tech unit, said Blackstone and co-investors Abu Dhabi Investment Authority and GIC,Emerson, which will retain about 45% st
would contribute $4.4 billion in equity toward the deal, which would be supplemented by $5.5 billion of debt financing.
The deal, expected to close in the first half of 2023, is the latest in a flurry of private equity transaction this year as valuations tumble amid a selloff in equities on recessio
The Climate Technologies business, which will be structured as a joint venture, generated net sales of $5 billion in fiscal 2022.The Climate Technologies business, which will be st