Emerson Electric in talks to sell assets to Blackstone valued at up to $10B (NYSE:EMR)
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Emerson Electric (NYSE:EMR) is in talks with Blackstone (NYSE:BX) to sell at least part of its commercial and residential solutions business in a deal that could be valued at $5B-$10B, Bloomberg reported Tuesday.
Emerson’s (EMR) commercial and residential solutions division provides a range of products for making homes more comfortable and energy efficient, from thermostats and hot-water dispensers to heating, ventilation and air conditioning monitors; the unit amassed $6.7B in sales in 2021, 18% higher than the previous year.
Emerson (EMR) has been reshuffling its business mix through divestitures after merging its industrial software business with Aspen Technology earlier this year.
In August, Emerson (EMR) agreed to sell its InSinkErator garbage disposal business to Whirlpool for $3B.