This copy is for your personal, non-commercial use only. (And regarding the two bylaw documents referred to in your note, my GC Eddie Dixon will be separately replying to your counsel to get that addressed. Box 1261, Little Rock, AR 72203-1261 In 2022, he serves as a voting member of the Federal Open Market Committee. Emerson has organized the resources to work expeditiously toward a transaction with NI, has shared a merger agreement with NI, and is prepared to transact promptly. Although we question the motivations for your updated guidance, we do believe in the long-term potential of the NI business under Emerson's leadership and, in the spirit of achieving engagement, we are willing to incorporate your updated outlook to improve our offer. Lal Karsanbhai has Our Improved Proposal delivers compelling all cash value and provides credit for significant future earnings, including your recently updated guidance. Frank Dellaquila - CFO. Lal Karsanbhai - President and CEO. # # # About Emerson He is currently serving a full term that began March 1, 2021. We look forward to prompt and complete responses on all of the above matters. Lal, thank you so much for your conversation today and for all of your insights. May 25, 2022 Emerson's First Offer Letter to NI, Eric StarkloffPresident and Chief Executive OfficerNational Instruments Corporation11500 N Mopac ExpwyAustin, TX 78759-3504. CEO Lal Karsanbhai sold the companys 150-plus acre campus in St. Louis, but the grass isnt greener anywhere else. We have established a working group of the Board to examine your proposal in greater detail, as we examine and evaluate options with the assistance of our advisors, inclusive of other prospective purchasers and transaction partners. BONUS PUBBLICITA: prorogato anche per il 2021! Im Todd Pruzan, senior editor for research and special projects at Harvard Business Review. Louis, MOwww.emerson.com/en-us/investors, Colleen Mettler, Vice President(314) 553-2197investor.relations@emerson.com, Innisfree M&A IncorporatedScott Winter / Jonathan Salzberger(212) 750-5833. Surendralal's mailing address filed with the SEC is C/O EMERSON ELECTRIC CO., 8000 W. FLORRISSANT AVENUE, ST. LOUIS, MO, 63136. Attached please find a request for both documents and related confirmations for delivery to the Secretary. Emerson shareholder approval will not be required. On November 15, 2022, NI responded to Emerson, indicating that it had created a working group of its Board to examine Emerson's proposal in greater detail, as well as evaluate options with the assistance of advisors. Please provide an update on your process and advise when the advisors can connect, as well as timing for the meeting with the working group and management. He also worked with top Emerson executives, business leaders, business unit presidents and world area leadership to organize the business plans and strategy sessions designed to drive growth and profitability. Please confirm receipt of this letter. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. And I have firmly believed from a very young age, when I first managed, that its important to surround oneself with the best, a team that can execute at a very high level, perform at a very high standard, but also where the summation of that team is greater than the summation of each individual. For non-personal use or to order multiple copies, please contact The second is accountability. Mr. Farr is one of the longest-serving CEOs in the S&P 500. You have had our Revised Proposal since November 3rd and over two weeks have passed since your last communication. A replay of the call will be available for 90 days on the company website and at www.MaximizingValueAtNI.com. I hope you had a good 4th of July weekend. The estimated Net Worth of Surendralal Lanca Karsanbhai is at least $14.2 Million dollars as of 16 November 2022. Great. November 16, 2022 Emerson's Response to NI, From: Lal KarsanbhaiSent: Wednesday, November 16, 2022To: Eric Starkloff; Michael McGrathSubject: Re: Follow up to NI letter dated August 2nd. These risks, as well as other risks associated with the proposed transaction, will be more fully discussed in any proxy statement(s) and other relevant materials related to the proposed transaction if and when they are filed with the SEC. Investors and security holders will be able to obtain free copies of these documents filed with the SEC if and when available without charge through the website maintained by the SEC at www.sec.gov or, in the case of documents filed by Emerson, by contacting the investor relations department of Emerson: Emerson8000 West Florissant Avenue, P.O. And the government can keep its incentives. Lal Karsanbhai is president and chief executive officer of Emerson. Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world's essential industries. But an organization is better off with a decision that can be ultimately, perhaps, corrected over time and to move forward in a direction. Box 407, Memphis, TN 38101-0407 (901) 523-7171 List of Directors Class A Class B Class C LITTLE ROCK BRANCH LOUISVILLE BRANCH MEMPHIS BRANCH Last Update: January 27, 2023 I know where the bodies are buried, and Ive used that to my advantage, said Karsanbhai. January 11, 2023 Emerson's Fourth Offer Letter to NI. Mr. Farr is one of the longest-serving CEOs in the S&P 500. January 27, 2023, Federal Reserve Bank and Branch Directors, Transcripts and other historical materials, Federal Reserve Balance Sheet Developments, Community & Regional Financial Institutions, Federal Reserve Supervision and Regulation Report, Federal Financial Institutions Examination Council (FFIEC), Securities Underwriting & Dealing Subsidiaries, Types of Financial System Vulnerabilities & Risks, Monitoring Risk Across the Financial System, Proactive Monitoring of Markets & Institutions, Responding to Financial System Emergencies, Regulation CC (Availability of Funds and Collection of Checks), Regulation II (Debit Card Interchange Fees and Routing), Regulation HH (Financial Market Utilities), Federal Reserve's Key Policies for the Provision of Financial Services, Sponsorship for Priority Telecommunication Services, Supervision & Oversight of Financial Market Infrastructures, International Standards for Financial Market Infrastructures, Payments System Policy Advisory Committee, Finance and Economics Discussion Series (FEDS), International Finance Discussion Papers (IFDP), Estimated Dynamic Optimization (EDO) Model, Aggregate Reserves of Depository Institutions and the Monetary Base - H.3, Assets and Liabilities of Commercial Banks in the U.S. - H.8, Assets and Liabilities of U.S. The largest trade he's ever made was exercising 10,000 units of Emerson Electric Co stock on 16 November 2022 worth over $650,700. And that purpose is really driving innovation that makes the world safer, healthier, smarter, and more sustainable. And the third is inclusion. To that end, we would be willing to extend the standstill agreement by one week and may see the potential for a very modest increase in value, subject to the following: We believe our offer is compelling and that there is a path to working with your Board privately and collaboratively towards a potential transaction. We are offering an immediate financial benefit to your shareholders, and a high-quality home for NI, benefiting your employees, customers, suppliers and communities. WebSurendralal Lal Karsanbhai is President/CEO at Emerson Electric Co. See Surendralal Lal Karsanbhai's compensation, career history, education, & memberships. Today, Im excited to speak with Lal Karsanbhai, Emersons president and CEO, about the importance of change, the value of surrounding yourself with the right I am writing to follow up on our November 3rd letter which outlined our improved proposal for the acquisition of all of the outstanding shares of National Instruments Corporation ("NI") by Emerson Electric Co. ("Emerson"). This communication relates to a proposal which Emerson Electric Co. ("Emerson") has made for a business combination transaction with the Company (the "Proposed Transaction"). As we discussed yesterday, we are not seeking to prevent you from making board nominations for our next annual meeting, and expect we can get the NDA organized and agreed in short order. With NI, Emerson would gain a strong, complementary portfolio of differentiated electronic test and measurement offerings, and a technology stack of industry-leading intelligent devices, controls and software that complements Emerson's technology stack in its core automation markets. Honeywell is headquartered in Charlotte, North Carolina, and was founded in 1906. He is fluent in Portuguese, French and English. Over 90% of the challenges that Emerson faces on a daily basis I never hear about. Emerson believes that there is a path to a friendly transaction and urges NI shareholders to make their views known to NI's management and Board. Karsanbhai was named president of Emersons Fisher regulator technologies in 2008. There are diminishing returns in information. Goldman Sachs & Co. LLC and Centerview Partners LLC are serving as financial advisors to Emerson and Davis Polk & Wardwell LLP and Sidley Austin LLP are serving as legal advisors. WebLal Karsanbhai. David Farr, the chief executive of Emerson Electric Co., is retiring this week after 21 years in the role and handing over leadership of the manufacturing company to another Emerson veteran. I dont think thats changed. A few things I can share with you, Todd. We stand ready to work immediately with NI's Board and management team to reach an agreement that would provide a compelling premium and certain cash value today for all NI shareholders. I would like our respective advisors to speak before Thanksgiving so we can better understand your process and the timeline to evaluate our proposal and other options. Following up on our call yesterday, just to confirm that your suggestion of getting together the first week of January in Austin works for us, and I'm looking forward to seeing you in person. We appreciate you and your team hosting us in Austin on January 4th and the one follow-up call between the teams on January 9th. November 15, 2022 NI's Response to November 3 Letter. I look forward to hearing from you promptly. Karsanbhai currently serves on the board of the Federal Reserve Bank of St. Louis and on the board of the US-China Business Council. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the election of the Nominees as directors of the Company and/or the Proposed Transaction, including a description of their direct or indirect interests in such matters, by security holdings or otherwise, will be set forth in any proxy statement(s) and other relevant materials related to such matters if and when they are filed with the SEC. Emerson, headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. WebLal L Karsanbhai lived on month day 2000, at address. Thank you, Todd. This Proposal has been reviewed with Emerson's board of directors who support the proposed transaction. He served as vice president of the regulator technologies business from 2002 until 2005, when he moved to Gallardon, France, as vice president and general manager of natural gas. Lal Karsanbhai will become the new CEO of Emerson and join the board of directors. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. What have you learned over the past few years about yourself and about your approach to leading and navigating change through these challenging times? WebKarsanbhai served as president of Emersons former Network Power business in Europe, Middle East and Africa from 2014 until 2016, when he was named group president of The first is trust and empowerment. . Mr. Karsanbhai owns over 10,000 units of Emerson Electric Co stock worth over $8,743,284 and over the last 4 years he sold EMR stock worth over $616,760. Watch Jim Cramers full interview with Emerson Electric CEO Lal Karsanbhai.
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