National Instruments (NASDAQ:NATI) decided that Fortive (NYSE:FTV) and Keysight Technologies (NYSE:KEYS) are poised to outbid Emerson Electric (NYSE:EMR) in its $7 billion offer for the maker of measurement equipment, Reuters reported, citing three people familiar with the matter.
Shares of National Instruments (NATI) rose 1.5% in premarket trading Friday.
The company in January sought more potential acquirers after Emerson (EMR) said it would challenge the company’s board of directors if it didn’t negotiate a buyout deal. Emerson (EMR) backed off from those plans after the bidding process began.
National Instruments (NATI) expects a takeover agreement to completed by early April, Reuters reported. It's also possible another buyer may submit an offer.