Box 407, Memphis, TN 38101-0407 December 14, 2022 Emerson's Section 220 Demand Letter and Follow Up to December 7 Request, From: Sara BoscoSent: Wednesday, December 14, 2022To: Eddie DixonSubject: EMR Demand Letter and Response to NI Letter Dated December 14, 2022. Karsanbhai was named president of Emersons Fisher regulator technologies in 2008. Copyright 2021 STUDIO CLARUS sas | P.I. We need to be willing to think differently, to challenge work processes, things weve done in the past, and adapt for the environment that were in. During his tenure at Emerson, Karsanbhai has worked in Europe, Africa and North America. ST. LOUIS (Feb. 1, 2021) Emerson (NYSE: EMR), a global technology and industrial software leader, today NI then informed Emerson that this would be the extent of its engagement. Based on what you have shared to date, we reiterate our proposal for Emerson to purchase 100% of the outstanding common stock of NI for $53 in cash per common share. Manufacturer promotes Lal Karsanbhai to chief executive; Farr to remain chairman until May. I look forward to hearing from you by then at the latest. Today, Im excited to speak with Lal Karsanbhai, Emersons president and CEO, about the importance of change, the value of surrounding yourself with the right Any forward-looking statements speak only as of the date of this communication. Im Todd Pruzan, senior editor for research and special projects at Harvard Business Review. May 25, 2022 Emerson's First Offer Letter to NI, Eric StarkloffPresident and Chief Executive OfficerNational Instruments Corporation11500 N Mopac ExpwyAustin, TX 78759-3504. Build a better team and achieve more of what matters. I am writing to follow up on your August 2nd response to our June 22nd letter which reiterated our proposal for the acquisition of all of the outstanding shares of National Instruments Corporation ("NI") by Emerson Electric Co. ("Emerson"). The estimated Net Worth of Surendralal Lanca Karsanbhai is at least $13.9 Million dollars as of 16 November 2022. Underscoring its commitment to consummating a transaction, Emerson has purchased 2.3 million shares of NI stock and has received approval under HSR1 to increase its stake. Karsanbhai is fluent in Portuguese, French and English and has lived and worked in Europe, Africa and North America. On average, Emerson Electric Co executives and independent directors trade stock every 37 days with the average trade being worth of $2,231,339. As such, we are increasing our Proposal, from $48 per share to $53 per share (our "Improved Proposal"). ", Mr. Karsanbhai continued, "We have long admired NI and believe that combining its best-in-class electronic test and measurement product and software offerings with Emerson's industry-leading automation technology and software would enhance our ability to bring comprehensive solutions to a diverse set of end markets, accelerating growth and positioning Emerson to create significant shareholder value. Emerson believes that there is a path to a friendly transaction and urges NI shareholders to make their views known to NI's management and Board. Please note the statutorily mandated initial compliance date of Thursday, December 22, 2022 and continuing thereafter through NI's next annual general meeting of its stockholders. Separately, as mentioned in our November 3rd letter, Emerson will be filing for HSR approval to acquire additional shares of National Instruments Corporation. James Bullard took office on April 1, 2008, as the 12th chief executive of the Eighth District, Federal Reserve Bank of St. Louis. To emphasize the level of work completed and ability to move with certainty and speed, we reiterate to you our proposed next steps consistent with our prior letters: We have invested considerable time and resources and remain fully committed to pursuing this transaction. Train The Trainer Cna Instructor Course In Alabama, Positive Displacement Pump Vs Centrifugal Pump. Additional Information and Where to Find It. We look forward to prompt and complete responses on all of the above matters. Emerson, headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. (502) 568-9200, Memphis The team performs. Emerson has performed due diligence with publicly available information and would have only limited and specific confirmatory due diligence requirements. Yeah, youre absolutely right, Todd. So having the right team in place is vital. 87990cbe856818d5eddac44c7b1cdeb8, Continue reading your article witha WSJ subscription, Already a subscriber? And that purpose is really driving innovation that makes the world safer, healthier, smarter, and more sustainable. Any definitive proxy statement(s) (including any WHITE proxy card enclosed with any definitive proxy statement(s) or supplements filed and/or disseminated by Emerson) (if and when available) will be mailed or otherwise made available to stockholders of the Company. We are prepared to engage with NI's Board and management team immediately and have organized the resources to work towards a transaction expeditiously. WebSurendralal Lal Karsanbhai is President/CEO at Emerson Electric Co. See Surendralal Lal Karsanbhai's compensation, career history, education, & memberships. We are prepared to move very quickly to complete our due diligence and sign definitive agreements. Find family history information in a whole new way. July 6, 2022 NI's First Response to June 22 Letter, From: Eric StarkloffSent: Wednesday, July 6, 2022To: Lal KarsanbhaiSubject: Re: Follow-up to NI letter dated June 16. Eric StarkloffPresident and Chief ExecutiveOfficer, November 3, 2022 Emerson's Third Offer Letter to NI. Given the time that has elapsed, we believe the context of our outreach, your Board's refusal to engage, and NI's investor communications since receiving our first offer are important to summarize: From our first outreach, we have preferred to engage with you privately and have been committed to improving our offer to reflect the outlook for your company incorporating the latest financial information.
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