Emerson Electric's $25-per-share tender offer for Avocent ends Nov. 21

By Lisa Kerner

Charlotte, N.C., Oct. 15 - Emerson Electric Co. subsidiary Globe Acquisition Corp. began its $25-per-share tender offer for the outstanding shares of Avocent Corp., according to a schedule TO-T filed with the Securities and Exchange Commission on Wednesday.

The offer will expire at midnight ET on Nov. 21.

As previously reported, Emerson agreed to acquire Avocent for $25 per share in an all-cash deal valued at approximately $1.2 billion.

Avocent's board of directors approved the deal, which is expected to close on or around Jan. 1.

Emerson, based in St. Louis, provides network power, process management, industrial automation and climate technologies solutions.

Avocent designs, manufactures, licenses and sells software and hardware products and technologies that provide connectivity and centralized management of IT. The company is located in Huntsville, Ala.

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