Blackstone is buying a stake in Emerson’s climate-tech unit in a deal valued at $14 billion, including debt, the first big private-equity buyout in months
Emerson Electric Co. is selling a majority stake in its climate-technologies business to Blackstone Inc.
in a transformational deal for the industrial company that would value the unit at $14 billion including debt and mark the biggest private-equity buyout in months at a time when such activity has beenThe deal, expected to be announced Monday, would give Blackstone a 55% stake in the unit, which sells compressors and other HVAC products and services used in commercial and residential heating and cooling as well as cold storage, executives from both companies said.
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