FTC OKs Emerson Electric's takeover of Pentair with conditions

|By:, SA News Editor

The FTC approves Emerson Electric's (EMR -0.9%) proposed $3.1B acquisition of industrial valve manufacturer Pentair (PNR -0.2%), on the condition that PNR's switchbox business is sold to Crane (CR -0.2%).

The sale will settle the FTC's competitive concerns; the regulator says the combination would control 60% of the U.S. switchbox market.