USA: Mergers & Acquisitions Emerson Publishes Update to Acquisition of Pentair's Valves and Controls Business
In order to receive final regulatory approval for the acquisition of Pentair's Valves & Controls business, Emerson has announced to divest a business within the unit.
St. Louis/USA — The global technology and engineering firm stated in an announcement that "Emerson has a clear understanding of what is required to receive the final regulatory approvals from the U.S. Federal Trade Commission and the Mexican Federal Economic Competition Commission for completion of the acquisition of Pentair's Valves & Controls business. In response, we have already entered into an agreement subject to Federal Trade Commission approval to divest a business within Pentair's Valves & Controls business which is not material to the underlying objectives with which we entered into the acquisition."
The company added that they were very optimistic to receive final regulatory approval and be able to close the acquisition by the end of April.
In August 2016, Emerson announced an agreement to purchase the Valves & Controls business of Pentair for $ 3.15 billion
Headquartered in Schaffhausen, Switzerland, the Pentair Valves & Controls business has nearly 7,500 employees around the world. The business has a large global installed base in chemical, petrochemical, oil and gas, power, mining and other process industries.