On Tuesday, sources said Emerson Electric (EMR.N) is in advanced discussions to purchase National Instruments Inc (NATI.O) for $8 billion.
Sources said Emerson outbid Fortive Corp (FTV.N) and Keysight Technologies Inc (KEYS.N) with a $60 per share offer for National Instruments.
The sources warned that the agreement might fall apart at the last minute but could be unveiled this week. Due to confidentiality, sources requested anonymity.
National Instruments, Emerson, Fortive, and Keysight did not reply to requests for comment.
National Instruments began a formal selling process in January after Emerson threatened to challenge its board if it did not negotiate. Once the National Instruments auction began, Emerson withdrew its aggressive bid.
After reporting Emerson’s involvement in January, Reuters reported in March that Emerson, Fortive, and Keysight were in the last round of bidding for National Instruments.
Texas-based Austin National Instruments makes automated testing and measuring instruments for the semiconductor, transportation, aerospace, and defense sectors.
In recent years, Emerson has made many agreements to become an industrial automation supplier. Last year, it sold a controlling share in its climate technology subsidiary to Blackstone Corp (BX.N) for $14 billion.
