FILE - A visitor views the video wall in the lobby of Emerson Electric's headquarters building in St. Louis, Wednesday, Nov. 28, 2007. Emerson is making a bid to buy National Instruments, Monday, Jan. 16, 2023 for $7.6 billion. Emerson is offering $53 per share in cash, an enhanced offer that was made in November.
FILE - A visitor views the video wall in the lobby of Emerson Electric's headquarters building in St. Louis, Wednesday, Nov. 28, 2007. Emerson is making a bid to buy National Instruments, Monday, Jan. 16, 2023 for $7.6 billion. Emerson is offering $53 per share in cash, an enhanced offer that was made in November.
NEW YORK — Emerson bumped up its cash offer for the maker of scientific measuring equipment and software to $53 per share in November, up from a per-share offer of $48 that it had made back in May.Emerson said that it’s tried numerous times to initiate private discussions with National Instruments Corp. since May. The St. Louis company said that when it provided its increased bid in November, National Instruments said it had formed a group to look at the proposal and evaluate options.
Emerson Electric Co., which makes process controls systems, valves and analytical instruments, noted that it did meet with National Instruments earlier this month, but that National Instruments shared “limited, high-level” information about its business and was unwilling to provide more detailed information. Emerson said it was told by National Instruments that would be the extent of its engagement.