BN 06/30 13:11 Emerson to Spin Off Network Power Unit, Explore More Changes (3)
BFW 06/30 10:03 Emerson to Spin Off Network Power, Explore Other Options
BFW 06/30 10:09 MORE: Emerson Plans Network Power Spinoff, Explore Other Actions
BN 06/30 10:02 *EMERSON TO SPIN OFF NETWORK POWER & EXPLORE OTHER OPTIONS
BN 06/30 10:01 *EMR TO CONDUCT COMPLETE REVIEW-ASSESSMENT OF CORPORATE SERVICES
BN 06/30 10:01 *EMR PLANS TO SPIN OFF NETWORK POWER BUSINESS
BN 06/30 10:01 *EMERSON OPTIONS INCLUDE POWER GENERATION & REMAINING STORAGE OP
BFW 06/30 10:01 *EMERSON PLANS TO SPIN OFF NETWORK POWER-EXPLORE OTHER ACTIONS
BN 06/30 10:00 *EMERSON OPTIONS INCLUDE MOTORS/DRIVES BUSINESS
BN 06/30 10:00 *EMR EXPLORING OPTIONS FOR MOTORS-DRIVES POWER
BN 06/30 10:00 *EMERSON PLANS EXPLORE OTHER STRATEGIC ACTIONS
BN 06/30 10:00 *EMERSON PLANS TO SPIN OFF NETWORK POWER-EXPLORE OTHER ACTIONS
BN 06/30 10:00 *EMERSON PLANS TO EXPLORE OTHER STRATEGIC ACTIONS
BN 06/30 10:00 *EMERSON LANS TO SPIN OFF NETWORK POWER & EXPLORE OTHER
BN 06/30 10:00 *EMERSON PLANS TO SPIN OFF NETWORK POWER & EXPLORE OTHER
BN 06/30 10:00 *EMERSON REPORTS STRATEGIC PORTFOLIO REPOSITIONING; PLANS TO
BFW 06/30 10:03 Emerson to Spin Off Network Power, Explore Other Options
BFW 06/30 10:09 MORE: Emerson Plans Network Power Spinoff, Explore Other Actions
BN 06/30 10:02 *EMERSON TO SPIN OFF NETWORK POWER & EXPLORE OTHER OPTIONS
BN 06/30 10:01 *EMR TO CONDUCT COMPLETE REVIEW-ASSESSMENT OF CORPORATE SERVICES
BN 06/30 10:01 *EMR PLANS TO SPIN OFF NETWORK POWER BUSINESS
BN 06/30 10:01 *EMERSON OPTIONS INCLUDE POWER GENERATION & REMAINING STORAGE OP
BFW 06/30 10:01 *EMERSON PLANS TO SPIN OFF NETWORK POWER-EXPLORE OTHER ACTIONS
BN 06/30 10:00 *EMERSON OPTIONS INCLUDE MOTORS/DRIVES BUSINESS
BN 06/30 10:00 *EMR EXPLORING OPTIONS FOR MOTORS-DRIVES POWER
BN 06/30 10:00 *EMERSON PLANS EXPLORE OTHER STRATEGIC ACTIONS
BN 06/30 10:00 *EMERSON PLANS TO SPIN OFF NETWORK POWER-EXPLORE OTHER ACTIONS
BN 06/30 10:00 *EMERSON PLANS TO EXPLORE OTHER STRATEGIC ACTIONS
BN 06/30 10:00 *EMERSON LANS TO SPIN OFF NETWORK POWER & EXPLORE OTHER
BN 06/30 10:00 *EMERSON PLANS TO SPIN OFF NETWORK POWER & EXPLORE OTHER
BN 06/30 10:00 *EMERSON REPORTS STRATEGIC PORTFOLIO REPOSITIONING; PLANS TO
Emerson Announces Strategic Portfolio Repositioning; Plans to Spin off Network Power Business and Explore Other Strategic
2015-06-30 10:00:00.164 GMT
Emerson Announces Strategic Portfolio Repositioning; Plans to Spin off
Network Power Business and Explore Other Strategic Actions
Transactions will Streamline and Optimize the Portfolio; Enhance Growth and
Investment Opportunities to Drive Profitability and Increase Shareholder Value
Portfolio Strategy to Include Exploring Strategic Alternatives for the Motors
and Drives, Power Generation and Remaining Storage Businesses
Emerson to Host Conference Call Today at 9:00 a.m. ET
Business Wire
ST. LOUIS -- June 30, 2015
Emerson (NYSE: EMR) today announced it plans to spin off its Network Power
business via a tax-free distribution to shareholders as part of a plan to
streamline its portfolio, drive growth, and accelerate value creation for
shareholders. Emerson will also explore strategic alternatives for its motors
and drives, power generation and remaining storage businesses. In addition,
the company will conduct a complete review and assessment of its corporate
services and structure to bring them into alignment with its smaller scale and
sharper focus.
The spinoff of Network Power will result in two separate, industry-leading
companies with distinct strategies and investment profiles. Following
completion of all actions, Emerson will continue to be a global leader in
bringing technology and engineering together to provide solutions for
customers in the process, industrial, commercial and residential markets.
These actions offer significant opportunities for enhanced growth,
profitability, cash flow, and returns to shareholders.
As a publicly traded company, Network Power will be the world’s leading,
stand-alone provider of thermal management, A/C and D/C power, transfer
switches, services and infrastructure management systems for the data center
and telecommunications industries. Network Power will have significant product
breadth, including a large portfolio of intelligent, rapidly deployable
hardware, software and service solutions for power, thermal and infrastructure
management. Network Power will be well positioned for further growth with
increased flexibility and speed to market that will allow it to better respond
to evolving market dynamics and customer needs.
“Emerson has a proven record of taking decisive actions to enhance shareholder
value while providing an unmatched level of service to customers around the
world,” said Chairman and Chief Executive Officer David Farr. “We are aligning
ourselves with the changing global marketplace and our customers’ evolving
needs to drive Emerson and Network Power forward. Creating two, independent
companies will position both businesses to continue as leaders and to pursue
distinct strategies to drive profitable growth. Emerson and Network Power will
each have sharper strategic focus, enabling both companies to better allocate
resources, incentivize employees and allocate capital to capture the
significant long-term opportunities in their respective markets.”
Transaction Details
The various transactions are expected to be substantially completed by
September 30, 2016. Additional information on structure, management,
governance and other significant matters for the Network Power separation will
be provided at a later date. The Network Power separation transaction will not
require approval from Emerson shareholders.
With regard to the plan to evaluate a broad range of alternatives for the
motors and drives, power generation and remaining storage businesses, there
can be no assurance that the strategic review process will result in any
transaction. The company does not intend to comment further regarding the
review process until any specific transaction is approved by the Board of
Directors or the review process is concluded.
Advisors
JP Morgan and Centerview Partners are serving as financial advisors. Davis
Polk & Wardwell LLP, Latham & Watkins LLP, Bryan Cave LLP and Baker & McKenzie
are serving as legal advisors to Emerson for the various transactions
described above.
Investor Conference Call
Emerson will host a conference call for investors today at 9:00 A.M. ET to
review the proposed separation and answer questions. Access to a live webcast
of the discussion will be available at www.emerson.com/financial at the time
of the call. A replay of the conference call will remain available for
approximately three months.
About Emerson
Emerson (NYSE: EMR), based in St. Louis, Missouri (USA), is a global leader in
bringing technology and engineering together to provide innovative solutions
for customers in industrial, commercial, and consumer markets around the
world. The company is comprised of five business segments: Process Management,
Industrial Automation, Network Power, Climate Technologies, and Commercial &
Residential Solutions. Sales in fiscal 2014 were $24.5 billion. For more
information, visit Emerson.com.
Forward-Looking and Cautionary Statements
Statements in this Form 8-K and the attached 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 our ability to complete the potential transactions referenced herein,
as well as 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.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20150630005581/en/
Contact:
Media Contact:
For Emerson
Mark Polzin, 314-982-1758
Mark.Polzin@fleishman.com
or
Investor Contact:
Emerson
Craig Rossman, 314-553-2197
investor.relations@emerson.com
-0- Jun/30/2015 10:00 GMT
2015-06-30 10:00:00.164 GMT
Emerson Announces Strategic Portfolio Repositioning; Plans to Spin off
Network Power Business and Explore Other Strategic Actions
Transactions will Streamline and Optimize the Portfolio; Enhance Growth and
Investment Opportunities to Drive Profitability and Increase Shareholder Value
Portfolio Strategy to Include Exploring Strategic Alternatives for the Motors
and Drives, Power Generation and Remaining Storage Businesses
Emerson to Host Conference Call Today at 9:00 a.m. ET
Business Wire
ST. LOUIS -- June 30, 2015
Emerson (NYSE: EMR) today announced it plans to spin off its Network Power
business via a tax-free distribution to shareholders as part of a plan to
streamline its portfolio, drive growth, and accelerate value creation for
shareholders. Emerson will also explore strategic alternatives for its motors
and drives, power generation and remaining storage businesses. In addition,
the company will conduct a complete review and assessment of its corporate
services and structure to bring them into alignment with its smaller scale and
sharper focus.
The spinoff of Network Power will result in two separate, industry-leading
companies with distinct strategies and investment profiles. Following
completion of all actions, Emerson will continue to be a global leader in
bringing technology and engineering together to provide solutions for
customers in the process, industrial, commercial and residential markets.
These actions offer significant opportunities for enhanced growth,
profitability, cash flow, and returns to shareholders.
As a publicly traded company, Network Power will be the world’s leading,
stand-alone provider of thermal management, A/C and D/C power, transfer
switches, services and infrastructure management systems for the data center
and telecommunications industries. Network Power will have significant product
breadth, including a large portfolio of intelligent, rapidly deployable
hardware, software and service solutions for power, thermal and infrastructure
management. Network Power will be well positioned for further growth with
increased flexibility and speed to market that will allow it to better respond
to evolving market dynamics and customer needs.
“Emerson has a proven record of taking decisive actions to enhance shareholder
value while providing an unmatched level of service to customers around the
world,” said Chairman and Chief Executive Officer David Farr. “We are aligning
ourselves with the changing global marketplace and our customers’ evolving
needs to drive Emerson and Network Power forward. Creating two, independent
companies will position both businesses to continue as leaders and to pursue
distinct strategies to drive profitable growth. Emerson and Network Power will
each have sharper strategic focus, enabling both companies to better allocate
resources, incentivize employees and allocate capital to capture the
significant long-term opportunities in their respective markets.”
Transaction Details
The various transactions are expected to be substantially completed by
September 30, 2016. Additional information on structure, management,
governance and other significant matters for the Network Power separation will
be provided at a later date. The Network Power separation transaction will not
require approval from Emerson shareholders.
With regard to the plan to evaluate a broad range of alternatives for the
motors and drives, power generation and remaining storage businesses, there
can be no assurance that the strategic review process will result in any
transaction. The company does not intend to comment further regarding the
review process until any specific transaction is approved by the Board of
Directors or the review process is concluded.
Advisors
JP Morgan and Centerview Partners are serving as financial advisors. Davis
Polk & Wardwell LLP, Latham & Watkins LLP, Bryan Cave LLP and Baker & McKenzie
are serving as legal advisors to Emerson for the various transactions
described above.
Investor Conference Call
Emerson will host a conference call for investors today at 9:00 A.M. ET to
review the proposed separation and answer questions. Access to a live webcast
of the discussion will be available at www.emerson.com/financial at the time
of the call. A replay of the conference call will remain available for
approximately three months.
About Emerson
Emerson (NYSE: EMR), based in St. Louis, Missouri (USA), is a global leader in
bringing technology and engineering together to provide innovative solutions
for customers in industrial, commercial, and consumer markets around the
world. The company is comprised of five business segments: Process Management,
Industrial Automation, Network Power, Climate Technologies, and Commercial &
Residential Solutions. Sales in fiscal 2014 were $24.5 billion. For more
information, visit Emerson.com.
Forward-Looking and Cautionary Statements
Statements in this Form 8-K and the attached 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 our ability to complete the potential transactions referenced herein,
as well as 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.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20150630005581/en/
Contact:
Media Contact:
For Emerson
Mark Polzin, 314-982-1758
Mark.Polzin@fleishman.com
or
Investor Contact:
Emerson
Craig Rossman, 314-553-2197
investor.relations@emerson.com
-0- Jun/30/2015 10:00 GMT