Emerson To Sell Network Power To Platinum Equity For $4 Bn
Emerson has announced an agreement to sell Network Power to Platinum Equity and a group of co-investors. The transaction is valued at $4 billion and Emerson will retain a subordinated interest in Network Power. The sale of Network Power is expected to close by December 31, 2016, subject to customary regulatory approvals. “This agreement marks a major milestone in the strategic portfolio re-positioning we announced last June,” said David N. Farr, Chairman and Chief Executive Officer of Emerson. “By selling Network Power to Platinum Equity, we have achieved a successful...