Emerson confirms plan to buy National Instruments in $8.2 bln deal

Emerson Electric Co. EMR said Wednesday it agreed to acquire National Instruments Corp. NATI for $60 per share in cash, at an equity value of $8.2 billion. The price amounts to a 14% premium over its closing price of $52.58 on Tuesday. It’s also a premium of 49% over NI’s closing share price as of Jan. 12, prior to its announcement of a strategic review. The deal comes after reports of a potential tie-up between the two companies was reported by Bloomberg. Emerson currently owns about 2.3 million shares of NI, or 2% of shares outstanding. “With this expansion into test and measurement, Emerson will enhance its automation…