Emerson Electrical
has achieved a deal to promote a bulk stake in its weather-systems business to personal-equity big
Blackstone
valuing the unit at $14 billion.
The offer, introduced Monday, sees
Blackstone
(ticker: BX) just take a 55% stake in the device, with Emerson (EMR) getting $9.5 billion in cash and a note of $2.25 billion, though retaining a 45% stake, Emerson claimed in a push release. Emerson’s weather tech device sells compressors and other heating, air flow and air conditioning systems for professional and residential works by using.
