COMPANIES Emerson, the US engineering company, said on Tuesday it had agreed to acquire Avocent, which makes network equipment and software, in a $1.2bn deal intended to widen its services offerings.
The all-cash deal is expected to close next January and at $25 a share would give Avocent stock holders a 22 per cent premium from last Friday’s closing share price. Shares of Avocent surged in midday trading by 21.15 per cent to $24.86, while Emerson’s stock was up by 1.96 per cent to $39.44.
