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Emerson offers to acquire NI

January 17, 2023 Emerson issued at press release announcing that it is offering an all-cash offer to acquire NI at a share price of $53, a historic high.

In its press release Emerson also supplied additional information encouraging NI shareholders to accept the offer. ¬†It also chronicled the timeline of its contacts (including correspondence since May 28, 2022) with NI which mostly have been rebuffed. ¬†Emerson also points out NI’s failure in development of LabVIEW NXG and identifies what it sees as significant operational inefficiencies.

Emerson’s press release can be seen here, and also contains links to its detailed reasoning for acquisition. NI has activated its “poison pill” clause on January 13, 2023, and Emerson held a conference call with investors at 8.30 a.m. today, January 17. Emerson has created a special web-site with details regarding the acquisition at “Maximizing Value at NI”.

Emerson has bought over 2,3 million shares in NI, and is prepared to move to unseat the Chairman of the NI board and its CEO.

Various media reporting can be found at:

Reuters

Wall Street Journal

Emerson is trading down about 6% Tuesday morning and NI up 13 % since Friday to about $53. Friday also saw a large increase from about $40 to $47/share after NI announced a strategic review.

 

 

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