Why Are National Instruments (NATI) Shares Trading Higher Premarket - Emerson Electric (NYSE:EMR)

Emerson Electric Co EMR proposed a takeover offer to National Instruments Corp NATI for $53 per share in cash at an implied enterprise value of $7.6 billion.
The offer implies a premium of 32% on NI's January 12 closing price, the day before NI's public announcement of a strategic review on January 13, 2023.
The offer represents a 45% premium to NI's closing share price as of November 3, 2022, the day Emerson submitted its latest proposal to acquire NI.
The offer represents an improvement over an initial $48 per share proposal submitted on May 25, 2022.
Emerson has attempted to engage constructively with NI in private since May 16, 2022.
Lal Karsanbhai, CEO of Emerson, said, "Acquiring NI is another step forward in Emerson's journey to develop a cohesive, higher growth and higher margin portfolio and build on its global automation focus."
The transaction will likely accrue to Emerson's adjusted EPS in the first year, meet Emerson's communicated returns threshold, and improve Emerson's overall growth.
Emerson sees significant profit and cash flow improvement potential across the NI business.
Emerson is disappointed that NI chose to announce a strategic review and put in place a poison pill on January 13, 2023, rather than engaging privately and constructively.
Price Action: NATI shares traded higher by 12.7% at $52.92 in the premarket on the last check Tuesday.

Emerson Discloses $7.6B Offer For National Instruments - Reveals Several Private Attempts Made Over Last Eight Months