Simpson Thacher is representing Emerson Electric Co. (NYSE: EMR) in connection with the sale of a majority interest in its Embedded Computing & Power business to an affiliate of Platinum Equity Advisors, LLC. Under the terms of the transaction, Emerson will receive aggregate consideration of approximately $300 million and retain a 49% equity stake in the business. The transaction is subject to regulatory approvals and other customary conditions to closing.
Emerson’s Embedded Computing & Power business, which generated revenue of approximately $1.4 billion in 2012, is a market leader in the design and supply of technologies used in communications and computing equipment.
The Simpson Thacher team includes: Mario Ponce, Anthony Vernace, Lauren Colasacco and Michael Guo (M&A); Brian Robbins, Paul Koppel and Sophia Karas (Executive Compensation and Employee Benefits); Adam Wells (Tax); Lori Lesser, Genevieve Dorment and Samantha Himelman (Intellectual Property); Peter Thomas, David Vann, David Shogren and Jonathan Ripa (Antitrust); Cheryl Scarboro, Abram Ellis and Karen Gift (Regulatory); Brian Steinhardt (Credit); Adeeb Fadil and Noreen Lavan (Environmental); and Krista McManus and Heesun Kang (Real Estate).