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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.
Here are some of the biggest U.S. stock movers on Wednesday.
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.
The bid for National Instruments is in step with Emerson Electric's strategic plans. Three companies are believed to have qualified for another round of bids.
National Instruments Corporation (NASDAQ:NATI ) Q4 2022 Earnings Conference Call January 31, 2023 5:00 PM ET Company Participants Marissa Vidaurri - VP, IR Eric Starkloff - President and CEO Daniel Berenbaum - CFO Karen Rapp - Strategic Adviser to the CEO Conference Call Participants Angela Jin - JPMorgan Rob Mason - R W. Baird Meta Marshall - Morgan Stanley Mark Delaney - Goldman Sachs David Kelley - Jefferies Damian Karas - UBS Operator Thank you for standing by, and welcome to the NI Q4 2022 Earnings Conference Call.
National Instruments (NATI) delivered earnings and revenue surprises of -3.08% and 1.53%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
The hostile bid isn't likely to end anytime soon.
National Instruments received a buyout offer this morning after announcing it was pursuing strategic alternatives last week.
Emerson announced it has launched a $7.6 billion hostile bid for National Instruments (NASDAQ:NATI) (NI) after multiple rebuffed attempts. In November 2022, the firm offered $53 per share, in cash, up from the initial $48 per share proposal submitted in May 2022.
National Instruments Corp. NATI, +12.64% confirmed that it received Emerson Electric Co.'s EMR, -6.70% $53 per-share buyout bid, but stressed that it would continue its previously announced review of strategic options. National Instruments said the review includes “robust solicitation of interest from potential acquirors.