The back-and-forth over National Instruments, which provides hardware and software for engineers and scientists, has gone on for almost a year. Emerson said in January that it had made more than one offer to buy the company since May 2022, but National Instruments separately said at the time that it wanted to talk to other potential buyers before making a decision.
Karsanbhai defended the acquisition price, saying Emerson remained true to its financial objective after eight weeks of due diligence that gave his company access to non-public information, facilities and senior management. There was a competing bid at $60 and Emerson got the nod because of certainty it could close the deal, Karsanbhai said in a telephone interview.
Emerson doesn’t plan to do any large acquisitions or divestitures after the flurry of activity, Karsanbhai said, although small, “bolt-on” deals could happen.