Shares of National Instruments, which is based in Austin, climbed 15% early Tuesday.
FILE - A visitor views the video wall in the lobby of Emerson Electric's headquarters building in St. Louis, Wednesday, Nov. 28, 2007. Emerson is making a bid to buy National Instruments, Monday, Jan. 16, 2023 for $7.6 billion. Emerson is offering $53 per share in cash, an enhanced offer that was made in November.NEW YORK — Emerson is going public with a $7.6 billion bid for National Instruments, saying the company has avoided serious buyout negotiations since early last year.
Emerson Electric Co., which makes process controls systems, valves and analytical instruments, noted that it did meet with National Instruments earlier this month, but that National Instruments shared “limited, high-level” information about its business and was unwilling to provide more detailed information. Emerson said it was told by National Instruments that would be the extent of its engagement.
The elements of each poison pill vary, but they’re all designed to give corporate boards an option to flood the market with so much newly created stock that a takeover becomes prohibitively expensive. National Instruments, which is based in Austin, Texas, did not immediately respond to a request seeking comment Tuesday.
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