Siemens said to have interest in Emerson network power business

German company Siemens AG has approached Emerson about acquiring the Ferguson-based company’s network power business, people familiar with the situation told Reuters.

A deal, which could be worth as much as $4 billion, would enable Emerson to focus on its core business, industrial automation, and its commercial and residential heating and air conditioning divisions.

Emerson announced last June that it planned to spin off the network power division and consider¬†options for its other noncore businesses. The company has been talking with private equity firms and other companies about potential deals, Reuters’ sources said.

Emerson previously said it hoped to spin off the network power business by September 2016. Sources say no deal is likely until later this year.

Read more: St. Louis Post-Dispatch, Bloomberg

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