- Emerson has issued a statement regarding its proposed acquisition of NI (formerly National Instruments), the Texas-based modular instrumentation specialist and inventor of LabView graphical programming software.
- Emerson’s goal in publicly disclosing its proposal to acquire NI was to ensure that NI’s board of directors performs a fair and transparent strategic review process and that NI’s shareholders understand the credibility of its proposal.
Emerson, a US-based process control and industrial automation solutions specialist, said:
Over the course of the last week, following the public statements by Emerson and NI, we have been pleased to see engagement between the management teams and advisors for NI and Emerson. We are optimistic that the NI Board has commenced a process that we believe will lead to the sale of the company. NI has also confirmed Emerson will be a participant in that process.
With the steps that NI and its Board have taken since our public proposal, Emerson has decided to proceed in its pursuit of acquiring NI without nominating its selected Independent Directors for election to NI’s Board at its upcoming Annual Meeting of Stockholders.
Emerson is committed to an acquisition of NI and is participating in the strategic review process. We believe our premium all-cash proposal at $53 a share, with no financing conditions or anticipated regulatory concerns, is compelling and in the best interest of Emerson and NI shareholders. We look forward to continued engagement with NI and its advisors and moving swiftly towards an agreed transaction.