NI confirmed that it has received a proposal from Emerson to acquire the company for $53 per share in cash, following a prior proposal from Emerson to acquire the company for $48 per share.

As previously publicly announced by the company on January 13, NI’s Board of Directors has initiated a review and evaluation of strategic options with the intent to unlock and maximize shareholder value. This strategic review process includes robust solicitation of interest from potential acquirors. NI’s Board of Directors will evaluate Emerson’s proposal within the context of the ongoing strategic review process, consistent with its fiduciary duties and in consultation with its financial and legal advisors. NI welcomes Emerson’s interest and participation in the process, as NI has previously informed Emerson. NI determined to affirmatively initiate, announce and pursue a comprehensive strategic review process inclusive of other counterparties rather than negotiate exclusively with Emerson, which NI believes would be detrimental to shareholder interests. NI notes Emerson’s expressed disappointment in this effort to maximize NI shareholder value.

NI is focused on conducting its strategic review process in a manner that provides all interested parties with the opportunity to fairly participate on a level playing field, which we believe is the best way to ensure that the process can maximize value for all shareholders.

BofA Securities and Wachtell, Lipton, Rosen & Katz are acting as NI’s financial and legal advisor, respectively.