Blackstone Eyes Emerson Electric's Commercial & Residential Solutions Assets: Report

Emerson Electric Co EMR is in talks with Blackstone Inc BX to divest a part of its commercial and residential solutions business.
The deal could be valued between $5 billion and $10 billion, but the talks are not conclusive, Bloomberg reported.
The move comes after a COVID-19 pandemic fueled a housing boom in the U.S., which saw home prices skyrocket. The recent inflationary environment, along with rising interest rates, had begun to cool down the sector.
Tightening credit markets and slowing economic growth keep away many takeover deals as companies have become averse to risk.
Earlier in 2022, Emerson merged its industrial software business with Aspen Technology Inc AZPN.
In August, the company sold its InSinkErator business to Whirlpool Corp WHR for $3 billion.
Emerson reported a 7% rise in Q3 revenue to $5 billion.
Price Action: EMR shares are trading higher by 2.24% at $80.00 in premarket on the last check Wednesday.