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Emerson agreed to buy Pentair's Valves & Controls business, which has about 7,500 employees, for $3.15 billion to expand its global valve and control portfolio. The deal was announced on August 19, 2016 and was expected to close in four to six months.
Emerson signed an agreement on 18 August 2016 to acquire Pentair's Valves & Controls business, based in Schaffhausen, Switzerland, for US$3.15 billion, with about 7,500 employees.
Emerson said it signed an agreement to divest part of the Pentair Valves & Controls business to address US FTC and Mexican antitrust concerns, and hoped to complete the deal by end of April. The statement is dated April 2017.
Emerson completed its purchase of MYNAH Technologies, a dynamic simulation and operator training software provider, to support Emerson Automation Solutions. Terms were not disclosed.
The US Federal Trade Commission approved Emerson Electric's acquisition of Pentair's Switzerland-based valves and controls business, valued at $3.15 billion, on condition that Emerson divest the Westlock Controls switchbox business to Crane Company.
Emerson said it expects final US FTC and Mexican regulatory approval for its acquisition of Pentair's Valves & Controls business, and will divest a non-material business to secure clearance. Closing is expected by the end of April 2017.
Emerson has agreed to buy Pentair's Valves & Controls division for $3.15 billion to expand its automation and valve portfolio. The division, headquartered in Schaffhausen, Switzerland, has about 7,500 employees.
