International.
Emerson announced it has signed an agreement to acquire Pentair's valve and controls business, worth $3.15 billion. Emerson said the complementary acquisition establishes its global presence in the control, insulation, pressure relief valves and actuation business as part of a strategy to build a broader automation portfolio.
This transaction is in addition to Emerson's recently announced divestitures of Network Power, Leroy-Somer, and Control Techniques for a total of US$5.2 million as part of the company's global strategic repositioning that began in June 2015.
Headquartered in Schaffhausen, Switzerland, Pentair Valves & Controls' business has nearly 7,500 employees worldwide. The business has a large installed base in the world in chemical processes, petrochemicals, oil and gas, energy, mining and other industries.
The acquisition is expected to close in the next four to six months, subject to several regulatory approvals.
