Global electrical and process automation giant Emerson Electric Co., St. Louis, has agreed to acquire SPX Corp.’s 44.5% minority interest in EGS Electric Group LLC, giving Emerson full ownership of the business. EGS, which is home to a large handful of storied brands in the electrical industry, had estimated revenues of more than $500 million in fiscal 2013.
Emerson purchased SPX’s share for $571 million. SPX will net $350 million from the deal after taxes, which it planne
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