Emerson Urges National Instruments Shareholders To Stop Board's Delay Tactics

(RTTNews) - Emerson (EMR) submitted a proposal to the Board of National Instruments (NATI) to acquire National Instruments for $53 per share at an implied enterprise value of $7.6 billion. The proposal was submitted on November 3, 2022, and represents an improvement over an initial $48 per share proposal submitted on May 25, 2022. In a letter dated January 11, 2023, the company reiterated its $53 per share proposal.

Emerson stated that the company is disappointed that National Instruments chose to announce a strategic review and put in place a poison pill on January 13, 2023. NI did not respond to Emerson's letter sent on January 11.

Emerson urged NI shareholders to engage with their Board to ensure the public strategic review process is not merely another delay tactic.