ST. LOUIS, April 4, 2017 – Emerson has a clear understanding of what is required to receive the final regulatory approvals from the U.S. Federal Trade Commission and the Mexican Federal Economic Competition Commission for completion of the acquisition of Pentair's Valves & Controls business.
In response, we have already entered into an agreement subject to Federal Trade Commission approval to divest a business within Pentair's Valves & Controls business which is not material to the underlying objectives with which we entered into the acquisition. Thus, we are very optimistic that we will receive final regulatory approval and be able to close by the end of April.
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Our Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Emerson Commercial and Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. For more information visit www.Emerson.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include economic and currency conditions, market demand, pricing, protection of intellectual property, and competitive and technological factors, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.