National Instruments shares up in premarket on report Emerson near deal to buy it

Shares of National Instruments Corp. (NATI) rose nearly 4% in premarket trading on Wednesday, after Bloomberg reported that Emerson Electric Co. (EMR) was nearing a deal to acquire the test and measurement making company. Citing sources, the report said Emerson was discussing an offer worth $60 per share, beating out another suitor, Fortive Corp. (FTV), with an announcement possibly due this week. National Instruments confirmed in January that it had received a $53 per-share buyout bid from Emerson, but that it would wait to hear from other potential buyers. Emerson also confirmed at the time that it had first approached National Instruments in May 2022 with an all-cash offer worth $48 per share, but National Instruments "refused to engage." MarketWatch has reached out to National Instruments, Emerson and Fortive for comment. Shares of Emerson fell 0.5% in premarket trading, while Fortive was not yet active.

-Barbara Kollmeyer

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

04-12-23 0526ET

Copyright (c) 2023 Dow Jones & Company, Inc.