Summary
Emerson Electric Co. (EMR) announced the completion of its acquisition of Pentair plc's Valves and Controls business for $3.15 billion in cash on April 28, 2017. This significant transaction marks a strategic move to expand Emerson's portfolio and market presence in the industrial sector. The acquisition was finalized under the terms of a share purchase agreement dated August 18, 2016, with post-closing adjustments to the purchase price. Investors should note that while the deal is complete, the full financial impact and integration details will unfold over time. The company has provided a press release detailing the closure of this acquisition, which is available as an exhibit to this filing. While the agreement itself contains representations and warranties for the benefit of the parties involved, investors are cautioned against relying on these for assessing Emerson's actual business conditions.
Key Highlights
- 1Emerson Electric Co. (EMR) completed the acquisition of Pentair plc's Valves and Controls business on April 28, 2017.
- 2The total purchase price for the Valves & Controls business was $3.15 billion in cash, subject to post-closing adjustments.
- 3The acquisition aligns with Emerson's strategic objectives and is expected to enhance its market position.
- 4The transaction was executed based on a share purchase agreement signed on August 18, 2016.
- 5A press release announcing the deal closure was issued on April 28, 2017, and is included as an exhibit.
- 6Investors are advised that representations and warranties in the purchase agreement are for the benefit of the contracting parties and not third-party beneficiaries.
- 7The filing includes forward-looking statements, and Emerson is not obligated to update them with future developments.