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Actionable news in EMR: EMERSON ELECTRIC CO.,

Emerson to Sell Network Power for $4 Billion to Platinum

  • Sale follows agreement to sell motor business to Nidec
  • Transaction is expected to close by the end of this year

Emerson Electric Co. will sell its network power division to Platinum Equity and other investors in a deal valued at $4 billion, the company’s second announced divestiture on Tuesday as Chief Executive Officer David Farr unloads less-profitable businesses.

The network power sale is targeted for completion by the end of this year, the St. Louis-based company said Tuesday in a statement. Emerson will keep a stake in the business, it...