Davis Polk is advising Emerson Electric Co. on the sale of its Network Power division to Platinum Equity Advisors, LLC and a group of co-investors. The transaction is valued at $4 billion and Emerson will retain a subordinated interest in Network Power. The transaction is expected to close by December 31, 2016, subject to customary regulatory approvals. Emerson had previously announced an intention to spinoff its Network Power Division to its shareholders.

Emerson, based in St. Louis, Missouri, is a global leader in bringing technology and engineering together for customers in industrial, commercial and consumer markets. Network Power, based in Columbus, Ohio, is a leading provider of thermal management, A/C and D/C power, transfer switches, services and information management systems for the data center and telecommunications industries. Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with a portfolio of approximately 25 operating companies that serve customers around the world.

The Davis Polk corporate team includes partners Phillip R. Mills and Marc O. Williams and associates Jesse Kramer and Amanda Bradley. Partner Michael Mollerus and associate Anne E. McGinnis are providing tax advice. Partner Jeffrey P. Crandall and counsel Ron M. Aizen are providing executive compensation advice. Partner Pritesh P. Shah is providing intellectual property and technology advice. Partner Ronan P. Harty is providing antitrust and competition advice. All members of the Davis Polk team are based in the New York office.

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