National Instruments (NASDAQ:NATI) stock is taking off on Wednesday thanks to news of an $8.2 billion deal with Emerson (NYSE:EMR).
That deal has Emerson offering $8.2 billion to acquire National Instruments. This has Emerson valuing shares of NATI stock at $60 each. That’s a 49% premium to NATI stock’s closing price on Jan. 12, 2023. This was the last day of trading prior to the company announcing a strategic review.
Emerson is using cash on hand and available liquidity to fuel its purchase of National Instruments. Both companies boards of directors have also given their support to the acquisition. That has them expecting to complete the deal in the fiscal first half of Emerson’s 2024 year.
Emerson notes it first needs to complete its sale of Climate Technologies to Blackstone (NYSE:BX) for roughly $8 billion. Also, shareholders of NATI stock will have to approve the deal before it can go through, as will regulators.
NATI Stock Movement Today
Following news of the acquisition deal, shares of NATI stock are seeing heavy trading volume. As of this writing, more than 17 million shares of the automated test equipment company’s stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 2.1 million shares.
NATI stock is up 9.5% as of Wednesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
