National Instruments up as sources say Emerson Electric nears $8 bln buyout deal

Fortive

12/04/2023 11:41

** Shares of National Instruments Corp  NATI.O  up about 7%
at $56.13 premarket
    ** Industrial conglomerate Emerson Electric  EMR.N  is in
advanced talks to acquire National Instruments in a deal that
could value the measurement equipment maker at about $8 billion,
people familiar with the matter said on Tuesday  urn:newsml:reuters.com:*:nL1N36F03W
    ** Emerson prevailed over other companies that participated
in the sale process, including Fortive Corp  FTV.N  and Keysight
Technologies Inc  KEYS.N , with an offer of about $60 per share
for National Instruments, the sources said
    ** Austin, Texas-based National Instruments specializes in
the production of automated testing and measurement tools for
the semiconductor, transportation, aerospace and defense
industries
    ** Shares of NATI were up 42.4% YTD

 (Reporting by Priyamvada C in Bengaluru)