Davis Polk & Wardwell LLP is advising Emerson Electric Co. on its proposal made on Tuesday, June 29, 2010, to acquire the entire issued and to-be-issued share capital of Chloride Group PLC. Emerson is proposing an all-cash offer for Chloride of 375 pence per ordinary share. An offer at this level would value Chloride’s issued and to-be-issued share capital at approximately £997 million.

Based in St. Louis, Missouri, Emerson is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial and consumer markets through its network power, process management, industrial automation, climate technologies and appliance and tools businesses. London-based Chloride specializes in the provision of Uninterruptible Power Supply (UPS) systems.

The Davis Polk corporate team includes partner Phillip R. Mills, associates James E. Elworth and Andrea S. Mparadzi and summer associate Jake H. Wang. Partner Ronan P. Harty and counsel Stephen M. Pepper are providing antitrust advice. The tax team includes partner Po Sit and associate Jason Rubin Sussman. All members of the Davis Polk team are based in the New York office.