Three bidders said to be interested in Emerson unit

Emerson’s alternator unit Leroy-Somer is expected to attract firm offers from two Chinese companies as well as one buyout group in a potential $1.1 billion deal, people familiar with the matter said.

Private equity group Clayton Dubilier & Rice, as well as Wolong Electric and another Chinese company are currently conducting due diligence on Leroy Somer and preparing to hand in final bids later this month, the sources said.

Ferguson-based Emerson wants to focus its business on process automation as well as heating and air conditioning and in April launched the sale of its Motors and Drives unit, which consists mainly of Leroy-Somer. It wants to choose a buyer before the August summer break, one of the people said.

Read more: St. Louis Post-Dispatch

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