Emerson Electric's Alternator Unit Has 3 Suitors, Says Reuters

Reuters, citing sources, said private equity group Clayton Dubilier & Rice (CD&R), as well as Wolong Electric and another Chinese company are currently conducting due diligence on Leroy Somer and preparing to hand in final bids later this month.

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The potential sale comes as Emerson wants to focus on process automation as well as heating and air conditioning. In April, the company launched the sale of its motors and drives unit, which consists mainly of Leroy Somer. Emerson wants to chose a buyer before the August summer break, Reuters said.

At time of writing, shares of Emerson Electric rose 1.66 percent to $53.24.