EU Clears Emerson Electric To Buy Chloride Group
August 24 2010 - 11:20AM
Dow Jones News
The European Commission Tuesday cleared U.S. industrial
conglomerate Emerson Electric Co. (EMR) to buy U.K. electrical
engineering firm Chloride Group (CHLD.LN).
The combined company would create one of the world's largest
suppliers of uninterruptible power equipment.
Emerson will pay 375 pence a share for Chloride, which was also
considering a bid from Swiss electrical engineering firm ABB Ltd.
(ABB)
-By Matthew Dalton, Dow Jones Newswires; +32 2 741 1487;
matthew.dalton@dowjones.com
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