Davis Polk is advising Emerson Electric Co. on its $810 million acquisition of the Tools and Test Equipment business of Textron. The transaction, which is expected to close within the next 90 days, is subject to various regulatory approvals and other customary closing conditions.
Emerson, headquartered in St. Louis, Missouri, is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Tools & Test is a manufacturer of electrical and utility tools, diagnostics, and test and measurement instruments. Textron is a multi-industry company, recognized for its Bell, Cessna, Beechcraft, E-Z-GO, Jacobsen and many more brands.
The Davis Polk corporate team includes partner Phillip R. Mills and associates Elyka A. Anvari and Samantha Kobbe. Partner Michael Mollerus and associate Anne E. McGinnis are providing tax advice. Partner Jeffrey P. Crandall is providing executive compensation advice. Partner Ronan P. Harty and counsel Mary K. Marks are providing antitrust and competition advice. Partner Pritesh P. Shah is providing intellectual property and technology advice. Counsel Betty Moy Huber is providing environmental advice. All members of the Davis Polk team are based in the New York office.