Emerson Electric Acquires National Instruments For $8.2B

Emerson Electric Co EMR has entered into a definitive agreement to acquire National Instruments Corp NATI after a long quest for the maker of measurement systems.
Emerson will acquire NI for $60 per share in cash at an equity value of $8.2 billion.
The $60 per share deal price represents a 49% premium to NI's closing share price as of Jan. 12, 2023, the day before NI's public announcement of a strategic review.
Emerson already owns approximately 2.3 million shares of NI, representing 2% of shares outstanding.
Related: Emerson Discloses $7.6B Offer For National Instruments - Reveals Several Private Attempts Made Over Last Eight Months
Emerson Electric held cash and equivalents of $2.27 billion as of Dec. 31, 2022.
Outlook: Emerson reaffirmed its second-quarter guidance announced on Feb. 8, 2023. Emerson expects continuing operations underlying sales growth of 8%-10% and adjusted earnings per share of $0.95-$1.00.
Price Action: EMR shares are trading lower by 1.71% at $83.00 and NATI higher by 8.62% at $57.11 premarket on Wednesday.