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Emerson Arranges $5.2 Billion-Worth of Asset Sales

Emerson Electric (EMR) on Tuesday announced two disposals worth a combined $5.2 billion as it seeks to focus on profitable growth in its core markets.

The bigger of the two deals will see the St. Louis, Mo.-based company sell its network power division to Beverly Hills-based buyout shop Platinum Equity and other investors for $4 billion, in what Emerson CEO David N. Farr sees as a "major milestone" in the company's portfolio repositioning announced last fall.