National Instruments
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
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CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
The inquiry is exploring whether NATI may have deliberately misled investors about offers from Emerson Electric. The complaint against NATI includes allegations of deceiving the investing public about the company’s prospects, artificially inflating its stock price, and causing investors to sell shares at artificially low prices.
Significant events in this matter include:
- On January 13, 2023, NATI announced a review of strategic options to maximize shareholder value, adopted a poison pill, and stated that this process might not lead to a specific transaction. However, NATI did not disclose that it had already received a substantial acquisition offer from Emerson Electric.
- The truth emerged on January 17, 2023, when Emerson Electric disclosed a timeline of its previous acquisition proposals to NATI. Emerson revealed its initial offer of $48 per share on May 25, 2023, a subsequent increase to $53 per share on November 3, 2022, and a reiteration of this increased offer on January 11, 2023. Emerson also noted NATI’s increased financial guidance in response to its offer, despite facing ongoing challenges.
- Following Emerson’s announcement, NATI’s share price soared, reaching as high as $54.69 on January 17, 2023.
- On April 12, 2023, Emerson announced a definitive agreement to acquire NATI for $60 per share in cash, valuing the company at $8.2 billion. This price represented a nearly 50% premium over NATI’s closing price on January 12, 2023. The acquisition was completed on October 11, 2023.
