- Emerson Electric Co. EMR has agreed to sell its Daniel Measurement and Control Business to an affiliate of Turnspire Capital Partners LLC for an undisclosed sum.
- Daniel's ultrasonic flowmeter and fiscal transfer system businesses are not part of this transaction.
- Houston–based Daniel provides flow and energy measurement technologies and services to the natural gas and refined hydrocarbon industries. It has a manufacturing facility in Chihuahua, Mexico.
- The transaction is expected to close in the third quarter of 2021 and includes Daniel's brand rights, facilities, intellectual property, and personnel.
- Emerson had cash and equivalents of $2.34 billion at the quarter ended March 31, 2021.
- Price action: EMR shares are trading higher by 1.01 % at $98.60 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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