Dec. 15, 2014, 7:42 AM
- Emerson Electric (NYSE:EMR) has reached a deal to sell its power-transmission solutions business to Regal Beloit (NYSE:RBC) for $1.4B in cash.
- Emerson says it will use the proceeds for an incremental share buyback during its fiscal 2015.
- Previously: WSJ: Emerson Electric nears $1.2B sale of unit to Regal Beloit (Dec. 12 2014)
- RBC +5.8% premarket
Oct. 16, 2014, 3:17 PM
- Timken (TKR -0.2%), Regal Beloit (RBC +0.9%) and Altra Industrial Motion (AIMC +0.6%) have made it to the second round of bidding in the auction for Emerson Electric's (EMR +2%) power transmission solutions business, Reuters reports.
- P-E firms Warburg Pincus and Onex also are said to be in the running for the unit, which is expected to fetch $1.2B-$1.6B in a sale.
Sep. 2, 2014, 3:31 PM
- General Electric (GE -0.4%) reportedly is among those preparing binding offers for Italian valve maker Petrolvalves, with Emerson Electric (EMR +0.4%) also considered a "motivated" bidder which could also participate in the final round of the company's auction.
- The offers could value the Italian company at more than €1B ($1.31B), according to Reuters.
- Petrolvalves is said to have set a deadline for binding offers towards the end of September in an attempt to sign a deal later this year.
Oct. 4, 2013, 9:53 AM| 1 Comment
Sep. 24, 2013, 9:23 AM| Comment!
Aug. 6, 2013, 7:45 AM
- Emerson (EMR) to sell 51% stake in embedded computing and power business to private equity firm Platinum Equity for $300M.
- Takes $503M pretax goodwill impairment charge on the operations.
- Net income slumps $194M from $770M, hurt by the impairment.
- Sales fall reflects "a sluggish economic environment and difficult comparisons, as recovery from the Thailand flooding drove robust third quarter sales in the prior year."
- Underlying sales -1%. Breakdown: U.S. -3%, Asia -3%, Europe -6%, emerging markets +2%.
- Low levels of business investment continue to reflect a cautious climate, particularly in mature markets," says CEO David Farr. "The near-term is expected to remain slow, but orders growth has resumed, suggesting the economic environment is beginning to stabilize and improve.
- 2013 outlook: EPS at lower end of $3.48-$3.55 range vs consensus of $3.49; reported and underlying sales growth of 1%, slightly lower than previous expectations; Adjusted EBIT and pretax margin approximately equal to prior year; operating cash flow of $3.4B, free cash flow of $2.7B. (Previous) (PR)
Jul. 30, 2013, 2:10 PM
- France's Schneider Electric (SBGSF.PK) is nearing a £3.3B (~$5B) deal to acquire British engineer Invensys (IVNSF.PK) and could announce it as soon as tomorrow, Reuters reports.
- The structure of the share-plus-cash deal should remain roughly the same as the one initially presented earlier this month, as no other bidder has emerged to challenge Schneider's bid.
- One source says there's still a 10%-15% chance that a rival bidder such as Emerson (EMR) could come in even after a potential announcement tomorrow.
Jun. 21, 2012, 4:30 AM
Jun. 20, 2012, 11:24 AMEmerson Electric (EMR -0.7%) has approached U.K. company Invensys (IVNYY.PK) about acquiring its Foxboro unit, a maker of meters and control systems, and even possibly the whole firm, Bloomberg reports. Invensys, whose market cap is $2.6B, is exploring its options, and has spoken to GE and Siemens (SI), which is interested in Invensys' rail ops. | Comment!
Apr. 2, 2012, 9:01 AM
Mar. 16, 2012, 11:24 AM
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