Emerson lifts bid for National Instruments to $7.6 billion
Shares of National Instruments Corp.
shot up 12.3% toward a five-year high in premarket trading Tuesday, after Emerson Electric Corp. EMR, -0.13% disclosed an improved buy bid in a deal with an implied value of $7.6 billion. Emerson’s stock fell 2.0% ahead of the open. Emerson said it proposed to pay $53 in cash for each National Instruments share outstanding, which is up from its bid of $48 a share submitted in May 2022. The per-share bid represents a 12.8% premium to Friday’s closing price, and a 31.
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