secwatch.observer — SEC 8-K summary
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Issuer:     EMERSON ELECTRIC CO (EMR)
CIK:        0000032604
Form:       8-K
Filed at:   2023-06-02T23:59:59+00:00
Accession:  0000950103-23-008357
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Emerson closes $14B sale of Climate Technologies to Blackstone; retains 40% stake in Copeland JV
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- Received $9.7B cash upfront and $2.25B note (5% PIK interest) from Blackstone for majority stake.
- Emerson holds 40% common equity in new JV Copeland; Blackstone holds 60% common + $2B convertible preferred.
- Pro forma continuing ops net earnings for 6mo Mar 2023: $1.054B ($1.82 diluted EPS), down from as-reported $859M.
- Proceeds expected to help fund pending $7.6B acquisition of National Instruments (NI), announced Apr 2023.
- Pro forma balance sheet shows $11.7B cash; long-term debt of $8.2B unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/32604/000095010323008357/0000950103-23-008357-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/32604/000095010323008357/dp194557_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-23-008357

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