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Nidec Agrees to Pay $1.2 Billion for Emerson Drives, Power

  • Deal follows 2010 purchase of Emerson’s motors, control ops
  • Buyer to pay cash, expects to close deal in third quarter

Nidec Corp. agreed to pay $1.2 billion for the motors, drives and electric power generation business of Emerson Electric Co., adding customers in Europe and North America. The purchase is the Japan-based precision motor-maker’s largest.

The all-cash deal includes France-based Leroy Somer Holding and businesses based in the U.K., U.S., China and India, Nidec said Tuesday in a statement. Nidec purchased other divisions of St. Louis-based Emerson in 2010.