Deal Du Jour: Emerson Acquiring Avocent For $1.2 Billion - Eric Savitz (Barron's)

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Deal Du Jour: Emerson Acquiring Avocent For $1.2 Billion
Oct 06, 2009 03:11 PM UTC

Eric Savitz (Barron's)

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Symbol	Sentiment	Start	Return	Closed
AVCT	n/a
EMR	n/a

Via BARRONS.com: Tech Trader Daily - Barron's Online:

And the deal machine rolls on.

Emerson Electric (EMR) this morning announced a deal to acquire Avocent (AVCT), a Huntsville, Alabama based producer of IT management hardware and software, for $1.2 billion in cash, or $25 a share. (Among other things, they make LANDesk, a software updating system which periodically pops up and forces me to reboot my laptop. Maybe Emerson can find a way to make the software less irritating.) Avocent had 2008 sales of $657 million.

The deal is expected to close around January 1.

AVCT is trading just under the deal price, up $4.32, or 21.1%, to $24.84. EMR is up $1.06, or 2.7%, to $39.74.

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