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EMR $78.25, Emerson Electric Said to Be in Asset-Sale Talks With Blackstone. The Stock Is Rising.

Shares in Emerson Electric (ticker:EMR) were up in premarket trading Wednesday after it was reported to be in talks with private-equity giant Blackstone over the sale of part of its commercial and residential solutions division.

The deal could be valued at between $5 billion and $10 billion depending on the assets sold, although no final decision has been made, Bloomberg reported, citing unidentified sources. Barron’s has contacted Emerson and Blackstone for comment.

Shares in Emerson were up 2.2% in premarket trading after the report. Emerson has reshuffled its portfolio recently, in August agreeing to sell its InSinkErator food-waste-disposal business to Whirlpool (WHR) for $3 billion.

Emerson’s commercial-and-residential solutions unit manufactures products ranging from refrigeration to heating and air conditioning. Blackstone is one of the world’s largest commercial property owners and is also a major investor in residential homes for rental.

https://www.marketwatch.com/articles/emerson-electric-blackstone-asset-sale-talks-51664970156?mod=newsviewer_click