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...The San Francisco-based group in late October also participated in a private loan to fund Blackstone’s purchase of a majority stake in Emerson Electric’s climate technologies business....
...Intriguingly, Emerson is itself a lender to Blackstone via so-called “seller financing”. Blackstone will owe $2.25bn to Emerson, due in a decade. That requires interest payments in the interim....
...Blackstone has agreed to buy a majority stake in Emerson Electric’s climate technologies business in a deal that values the industrial conglomerate’s unit at $14bn and was arranged at a time when debt financing...
...Emerson Electric was down 5 per cent after reporting first-quarter revenue and adjusted earnings below analysts’ expectations, as the company continued to deal with supply chain issues....
...There are pandemic stories (Moderna, AirBNB, Hapag-Lloyd) and restructuring stories whose net profit comparison is probably not like-for-like (Prudential, GE, Emerson Electric)....
...Emerson Electric will receive $9.5bn in cash from the sale — $4.4bn of it from Blackstone and the remainder from debt sources that were arranged by the private equity firm....
...News round-up EY US to embark on $500mn cost savings after scuppering break-up plan (FT + Lex) Emerson Electric to buy NI Corp for $8.2bn to deepen automation push (Reuters) JPMorgan orders senior bankers...
...Separately, US appliance maker Whirlpool agreed to pay $3bn for Emerson Electric’s food waste disposal business Insinkerator....
...Blackstone has tapped former United Technologies executive Ross Shuster to lead the climate technology business it recently purchased a majority stake in from Emerson Electric....
...Stock exchange rules would have prevented the miner from selling cobalt for electric vehicle batteries at mates’ rates, shareholding regardless....
...News round-up PwC resigns as indebted Chinese developer Evergrande’s auditor (FT) Britishvolt collapses into administration as rescue talks fail (FT) Emerson Electric unveils hostile $7bn bid for National...
...The Abu Dhabi Investment Authority, alongside Singapore’s GIC, helped fund Blackstone’s deal to buy a stake in Emerson Electric’s climate technologies business last week in a deal that valued the unit at...
...Blackstone has agreed to acquire a majority stake in Emerson Electric’s climate technologies business in a deal that values the unit at $14bn....
...News round-up Ex-Jones Day partner told to pay £635k over instruction to ‘burn’ app (FT) Kwasi Kwarteng to meet UK bank chiefs over mortgage market turmoil (FT) Blackstone in talks to buy Emerson Electric...
...Something else in short supply is lithium, a key raw material for electric car batteries....
...Manufacturers such as Illinois Tool Works and Emerson Electric also warned of pressure on margins despite their efforts to pass on cost increases to customers....
...GE’s split could also prompt other conglomerates such as 3M, Eaton and Emerson to simplify their portfolios, said Dray. Frank Aquila, global head of M&A at law firm Sullivan & Cromwell, agreed....
...Yesterday the administration said it would invoke a decades-old US war provision to boost the supply of batteries for electric vehicles. Welcome to your Thursday Energy Source....
...Last month, LoveFrom signed a deal with Exor, parent company of Ferrari, as the supercar maker works on its first electric vehicle....
...In 2019, Emerson Electric’s fleet of private aircraft drew criticism from activist investor DE Shaw....
...At times it was visceral and thrilling, a cross between rave and jazz; at points — as keyboards and drums battled each other to see how crowded a bar of music could be — one wondered how Emerson, Lake and...
...‘Common Ground’ by Big Big Train is out now on English Electric; ‘Insolo’ by Gary Kemp is out now on Sony; ‘The Quest’ by Yes is released on October 1 on InsideOutMusic...
...By comparison, Emerson Electric, many of whose divisions operate in similar areas in the US, trades on around 22 times earnings for similar earnings growth....
...Besides, they weren’t going to be lectured to by a people who do not see the need for electric kettles and microwave the water for their tepid tea....
...We initiate as buyers of Emerson, Legrand, Rexel, Rockwell, Schneider and Siemens....
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