Emerson preparing for sale to streamline portfolio

Emerson Electric Co. may be preparing to sell its motors and drives businesses as the company begins to streamline its portfolio.

The $800-million unit, which includes French-based Leroy-Somer, may see fewer bidders due to the challenge of restructuring French companies.

JPMorgan and Centerview Partners expect to send a first information memorandum to prospective buyers by June.

Emerson’s move to divest, which also could include its power generation and storage businesses and could affect revenue and its workforce of about 115,000, came after the company’s stock began to slide from a high of $70.21 a share to below $55 per share in July.

Read more: St. Louis Business Journal

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