Emerson Says Committed To Proceed With National Instruments' Acquisition

(RTTNews) - Technology and software company Emerson Electric Co. (EMR) on Monday issued the following statement regarding its all-cash proposal to acquire National Instruments Corp. (NATI) for $53 per share.

Emerson said it has decided to proceed in its pursuit of acquiring National Instruments without nominating its selected Independent Directors for election to National Instruments' Board at its upcoming Annual Meeting of Stockholders.

Emerson has publicly disclosed its proposal to acquire National Instruments with the objective of ensuring that the National Instruments Board of Directors executed a fair and transparent strategic review process, and that National Instruments' shareholders understood the credibility of its proposal.

Over the course of the last week, there has been engagement between the management teams and advisors for National Instruments and Emerson.

Emerson is committed to an acquisition of National Instruments and is participating in the strategic review process by National Instruments' Board.

Emerson said it believes it's 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 National Instruments shareholders.