Emerson to not nominate board directors at takeover target NI
23/01/2023 12:30
Jan 23 (Reuters) - U.S. industrial software firm Emerson
Electric Co EMR.N said on Monday it would not nominate
directors to the board of testing and measurement equipment
maker NI Corp NATI.O and kept its buyout offer price
unchanged.
Emerson last week disclosed a $53-per-share offer for NI,
which it has been trying to buy unsuccessfully for several
months, as it looks to capitalize on upbeat demand in the
automation sector.
"We are optimistic that the NI Board has commenced a process
that we believe will lead to the sale of the company. NI has
also confirmed Emerson will be a participant in that process,"
Emerson said, adding it was encouraged by recent discussions
between the companies.
(Reporting by Priyamvada C in Bengaluru; Editing by Shinjini
Ganguli)
((Priyamvada.C@thomsonreuters.com https://twitter.com/priyamouli1812?lang=en;))