Emerson Reaches Agreement to Sell Network Power for $4 Billion to Platinum Equity
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August 2, 2016 6:43 AM EDT
Emerson Electric (NYSE: EMR) reported Q3 EPS of $0.80, $0.04 worse than the analyst estimate of $0.84. Revenue for the quarter came in at $5.1 billion versus the consensus estimate of $5.32 billion.
GUIDANCE:
Emerson Electric sees FY2016 EPS of $2.90-$3.10, versus the consensus of... More
August 2, 2016 6:36 AM EDT
Emerson (NYSE: EMR) announced that it has agreed to sell its Leroy-Somer and Control Techniques business units to Nidec Corporation. The transaction is valued at $1.2 billion and is expected to close by December 31, 2016, subject to regulatory approvals. The proceeds will strengthen Emersons balance sheet providing increased capacity for strategic investment.
The Leroy-Somer and Control Techniques management teams and product leadership positions will... More
