Regulators OK sale of Motorola division |
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Mon, 29 Oct 2007 21:22
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WASHINGTON (AP) - Antitrust regulators have approved Emerson Electric Co.'s $350 million purchase of Motorola Inc.'s embedded communications computing business, a government agency said Monday.Motorola's embedded computing products are used to control machines or other systems, and can be found in telecommunications, medical imaging, defense and aerospace applications, Motorola said when announcing the deal in September. In telecommunications products, they consolidate and route voice, video and data traffic across networks.The business accounted for $520 million, or just above 1 percent, of Motorola's revenue, the Schaumburg, Ill.-based company said.The transaction is expected to be completed by the end of the year, the company said.The Federal Trade Commission on Monday included the deal on a list of transactions that received an 'early termination' of their antitrust reviews. Early termination refers to the completion of a review before the end of a 30-day period required under antitrust law.Motorola shares fell 29 cents to $18.95, while St. Louis-based Emerson Electric shares rose 13 cents to $51.53.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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