RTTNews | Oct 26, 2021 10:19PM EDT

22:19 Tuesday, October 26, 2021 (RTTNews.com) - Emerson Electric Co. (EMR) is considering a sale of thermostat maker Therm-O-Disc that could value the unit at about $1 billion, Bloomberg reported citing people familiar with the matter.

The report said that the company is working with an adviser to run a sale process for the unit. Therm-O-Disc is expected to attract interest from private equity firms.

Earlier this month, Emerson and AspenTech said that they entered into a definitive agreement to contribute Emerson's industrial software businesses - OSI Inc. and the Geological Simulation Software business - to AspenTech to create a diversified, high-performance industrial software leader with greater scale, capabilities and technologies.

Emerson would also contribute $6.0 billion in cash to new AspenTech, which would be received by AspenTech shareholders, in exchange for a 55% stake in new AspenTech. The new company, which will retain the name AspenTech.

Read the original article on RTTNews ( https://www.rttnews.com/3235787/emerson-electric-considers-1-bln-sale-of-therm-o-disc-unit-report.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved