Louis, MOwww.emerson.com/en-us/investors, Colleen Mettler, Vice President(314) 553-2197investor.relations@emerson.com, Innisfree M&A IncorporatedScott Winter / Jonathan Salzberger(212) 750-5833. Over 90% of the challenges that Emerson faces on a daily basis I never hear about. 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. This Proposal has been reviewed with Emerson's board of directors who support the proposed transaction. Leadership is about the team. There are diminishing returns in information. Furthermore, Emerson is prepared to nominate directors for election to NI's Board. 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. Cramer interviewed Emerson Electric CEO Lal Karsanbhai on Tuesday. Federal Reserve Bank of St. Louis. We have no current plan to disclose this letter and assume that you do not intend to either. Finally, the Emerson proposal is not subject to any financing conditions. Stephens Building, 111 Center Street, Suite 1000, Little Rock, AR 72201 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. Emerson Electric Co. (NYSE:EMR) Q3 2021 Earnings Conference Call August 4, 2021 9:30 AM ETCompany Participants. Great. The most recent stock trade was executed by Mark J Bulanda on 12 December 2022, trading 40,000 units of EMR stock currently worth $2,602,800. We look forward to learning more about your internal plan and are confident that with access to limited non-public information after signing an NDA, we could work with you to find additional value that would allow us to increase our Proposal. As outlined at Emerson's November 29, 2022 Investor Conference, test and measurement is one of Emerson's four priority segments. This communication contains "forward-looking" statements as that term is defined in Section 27A of the Securities Act and Section 21E of the Exchange Act, as amended by the Private Securities Litigation Reform Act of 1995. Leadership is not about the individual. Mr. Karsanbhai owns over 10,000 units of I wanted to let you know that we will be discussing your follow-up letter at our regularly scheduled board meeting at the end of this month. Best wishes for a happy holidays. Attached please find Emerson's demand as a stockholder of National Instruments Corporation ("NI") for inspection of books and records of NI. NI shareholders should understand that for eight months they have been deprived of the opportunityto realize certain cash value at a significant premium. Our strong preference is to work constructively and expeditiously with you and your board to announce a Definitive Agreement. Most recently he exercised 10,000 units of EMR stock worth $650,700 on 16 November 2022. I am writing to follow up on our November 3rd letter which outlined our improved proposal for the acquisition of all of the outstanding shares of National Instruments Corporation ("NI") by Emerson Electric Co. ("Emerson"). Great. Emerson has long admired NI as a technology leader in the electronic test and measurement industry, a complementary adjacency to our Automation Solutions business with a similar technology stack of intelligent devices, controls, and software. In addition, he makes $4,585,450 as Executive President - Automation Solutions at Emerson Electric Co. Surendralal has made over 3 trades of the Emerson Electric Co stock since 2018, according to the Form 4 filled with the SEC. Karsanbhai will be just the fourth CEO since 1954 to lead the industrial And third, as we learned multiple times now, is agility. St. Louis, MO 63102 I look forward to hearing from you by then at the latest. Eric StarkloffPresident and Chief ExecutiveOfficer, November 3, 2022 Emerson's Third Offer Letter to NI. Emerson has 19,630 fewer employees vs. ABB. We have been particularly impressed with NI's portfolio including modular intelligent devices and the LabVIEW suite of offerings, as well as NI's industry stewardship over many decades in this space. The attached demand provides the contact information for coordinating NI's response through Emerson's outside counsel, Davis Polk. Emerson shareholder approval will not be required. Il bando ha l'obiettivo di promuovere la crescita inclusiva, di rafforzare l'occupabilit e la permanenza in azienda. Create a free family tree for yourself or for Lal Karsanbhai and well search for Louis, MO 63136-8506. (And regarding the two bylaw documents referred to in your note, my GC Eddie Dixon will be separately replying to your counsel to get that addressed. In preparation for that information sharing, I'll have our lawyers at Wachtell Lipton (Adam Emmerich, Sabastian Niles and Lina Tetelbaum) send along a proposed NDA. Visitor Information. Conference call slides will be posted in advance of the call on the company website and at www.MaximizingValueAtNI.com. Please advise me of the contact details of your advisers and I will have my advisers from Goldman and Centerview reach out to them. We stand ready to work immediately with NI's Board and management team to reach an agreement that would provide a compelling premium and certain cash value today for all NI shareholders. But Ive always been respectfulrespectful of people, respectful of the organization. Emerson is the global technology, software and engineering powerhouse driving innovation that makes the world healthier, safer, smarter and more sustainable. As the nomination window opens shortly (Wednesday, December 28, 2022), we would appreciate a timely response and in any case before the deadline stated in the attachment. In addition to the immediate value created for your shareholders as outlined in the Proposal, Emerson has demonstrated long term stewardship and investment in acquired businesses over many decades. We look forward to hearing from you. Dr. Bullard is a native of Forest Lake, Minnesota. Any forward-looking statements speak only as of the date of this communication. I received your letter dated Thursday, June 16th, responding to our proposal from Wednesday, May 25th (the "Proposal") for the acquisition of all of the outstanding shares of National Instruments Corporation ("NI") by Emerson Electric Co. ("Emerson"). Lal Karsanbhai became executive president of Emerson Automation Solutions in October 2018. In this role, Karsanbhai is responsible for leading strategies, technologies and innovations to help customers enhance operations and achieve Top Quartile performance. Its a great question, Todd. Esperti OCF nella Protezione Patrimoniale. Mr. Farr is one of the longest-serving CEOs in the S&P 500. The oldest executive at Emerson Electric Co. is ArthurGolden, 73, who is the Independent Director. Does Wednesday, January 4 work for you? Emerson urges NI shareholders to engage withtheir Boardto ensurethis public strategic review process is not merely another delay tactic. The most active insiders traders include Randall L Stephenson, David N Farr, and Technologies Inc Aperture. Karsanbhai was named president of Emersons Fisher regulator technologies in 2008. The second is accountability. James Bullard took office on April 1, 2008, as the 12th chief executive of the Eighth District, Federal Reserve Bank of St. Louis. Ive been tough. Emerson CEO Lal Karsanbhai says St. Louis needs to make a change in order to attract new businesses and keep the ones it has. We wanted to follow-up on our initial confirmation of receipt of your November 3, 2022 letter. Please let me know who they should send it to from your advisor team. He is currently serving a full term that began March 1, 2021. He led Automation Solutions to strong performance, elevating Emersons software profile and digital transformation business. Please provide an update on your process and advise when the advisors can connect, as well as timing for the meeting with the working group and management. Over a period starting almost 6 months ago, we have consistently been prepared to provide your shareholders an all-cash offer at a meaningful premium, which your Board has repeatedly rebuffed and refused to provide even limited financial information. I look forward to hearing from you promptly. He has a bachelors degree in economics from the University of Michigan and a masters degree in business administration from Washington University in St. Louis. Lal Karsanbhai is currently President, Chief Executive Officer and Director at Emerson Electric and Director at Federal Reserve Bank of St. Louis. (Photo: Business Wire) ST. LOUIS-- ( BUSINESS WIRE )--Emerson (NYSE: We have established a working group of the Board to examine your proposal in greater detail, as we examine and evaluate options with the assistance of our advisors, inclusive of other prospective purchasers and transaction partners. He is fluent in Portuguese, French and English. our Subscriber Agreement and by copyright law. He started his professional career at Emerson in 1995, the year he On average, Surendralal trades about 2,159 units every 111 days since 2018. Its Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. Web101 South Fifth Street, Suite 1920, Louisville, KY 40202 (502) 568-9200 Memphis 200 North Main Street, Memphis, TN 38103 P.O. Karsanbhai currently serves on the board of the Federal Reserve Bank of St. Louis and on the board of the US-China Business Council. But the listening is incredibly important across the entire enterprise. The voices are important. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. He is also a member of Business Roundtable and The Business Council. CEO Lal Karsanbhai sold the companys 150-plus acre campus in St. Louis, but the grass isnt greener anywhere else. While it is our preference to work with your Board privately and collaboratively towards a potential transaction, another refusal to engage will force us to ensure your shareholders can assess our Improved Proposal directly. 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. I know where the bodies are buried, and Ive used that to my advantage, said Karsanbhai. In this role, which he began in October 2018, Karsanbhai was responsible for leading strategies, technologies and innovations to help essential industries enhance operations and achieve Top Quartile performance. He led Automation Solutions to strong performance, elevating Emersons software profile and digital transformation business. David Farr, the chief executive of Emerson Electric Co., is retiring this week after 21 years in the role and handing over leadership of the manufacturing company to another Emerson veteran. I will be in touch with you after the board meeting to discuss. Combining NI with Emerson would lead to significant opportunities for both of our teams and further develop our position as a premier global automation company. December 7, 2022 Emerson's Request to NI for Director and Officer Questionnaire, From: Lal KarsanbhaiSent: Wednesday, December 7, 2022To: Eric StarkloffSubject: Re: Re: Re: Follow up to NI letter dated August 2nd. Karsanbhai has a bachelors degree in economics from the University of Michigan and a masters degree in business administration from Washington University in St. Louis. It is our sincere hope that your Boardhaving had multiple opportunities to communicate its strategy and outlook to the market with no material change in NI's share pricewill view this Improved Proposal favorably and now engage with us in a constructive dialogue. To reiterate, our Proposal all cash consideration with no financing contingency and no substantive regulatory impediments provides both significant value and certainty to NI's shareholders. (501) 324-8300, Louisville Its important to listen. The proposal, which is not subject to any financing conditions, was submitted to NI on November 3, 2022, and represents an improvement over an initial $48 per share proposal submitted on May 25, 2022. He lived on month day 2003, at address. Covers the state of Arkansas; 44 counties in southern Illinois; 24 counties in southern Indiana; 64 counties in western Kentucky; 39 counties in northern Mississippi; 71 counties in central and eastern Missouri; the city of St. Louis; and 21 counties in western Tennessee. During his tenure at Emerson, Karsanbhai has worked in Europe, Africa and North America. Emerson sees significant potential for profit and cash flow improvement across the NI business by applying proven operational excellence and productivity levers through Emerson's Management System. While it would be premature for our advisors to meet at this time, we will consider a future meeting with representatives from the working group and management after the Thanksgiving holiday. 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. And that purpose is really driving innovation that makes the world safer, healthier, smarter, and more sustainable. Please confirm receipt of this letter. The second is we have to listen to the organization. Thats a great point. Participants can access a live webcast available at www.Emerson.com/en-us/investors at the time of the call. (502) 568-9200, Memphis Please enable JavaScript to use this website. Surendralal L Karsanbhai is President, Chief Executive Officer & Director at Emerson Electric Co. Mr. Karsanbhai received an Emerson is prepared to proceed immediately to work with NI and its advisors to complete due diligence and to negotiate a mutually agreeable merger agreement (the "Definitive Agreement") in parallel. Emerson Electric Co executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. I look forward to hearing a more constructive answer and stand ready to engage. Additional Information and Where to Find It. Its important for a company to set values and use them as the North Star for how we communicate and how we navigate through the challenges. The final approval of Emerson's board of directors would be required prior to entering into the Definitive Agreement. We appreciate you and your team hosting us in Austin on January 4th and the one follow-up call between the teams on January 9th. This communication relates to a proposal which Emerson Electric Co. ("Emerson") has made for a business combination transaction with the Company (the "Proposed Transaction"). Emerson and the Nominees are anticipated to be participants in the solicitation of proxies in connection with the election of the Nominees as directors of the Company. By continuing your navigation, you consent to their use. For non-personal use or to order multiple copies, please contact R. Eddie Dixon, Jr.Chief Legal Officer, Senior Vice President & Secretary, December 16, 2022 NI's Email Confirming January 4 Meeting with Emerson, From: Eric Starkloff Sent: Friday, December 16, 2022 To: Lal KarsanbhaiSubject: Re: Re: Re: Re: Follow up to NI letter dated August 2nd. So just to flip that question, how have you stayed the same throughout your career? Attached please find a request for both documents and related confirmations for delivery to the Secretary. https://www.wsj.com/articles/emerson-ceo-dave-farr-to-retire-after-21-years-11612193979.
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