Computational Systems Inc. Announces Merger Agreement With Emerson Electric Co.KNOXVILLE, Tenn.--(BUSINESS WIRE)--Oct. 17, 1997--Computational Systems Inc., (NASDAQ/NM:CSIN CSIN Chemical Substances Information Network CSIN Computer Systems Information Network ) a leading developer and producer of predictive maintenance Predictive maintenance (PdM) techniques help determine the condition of in-service equipment in order to predict when maintenance should be performed. This approach offers cost savings over routine or time-based preventive maintenance because tasks are performed only when hardware and software, announced today that it has signed an agreement and plan of merger with Emerson Electric Co., and upon completion of the merger will become a wholly-owned subsidiary of Emerson. The agreement, which is subject to certain conditions, including regulatory and CSI's stockholders' approval, calls for Emerson to pay $29.65 a share for each share of CSI's outstanding common stock, of which $5.93 per share is payable in cash, and the remaining $23.72 per share is payable in Emerson common stock in a tax-free exchange tax-free exchange An exchange of assets between taxpayers in which any gain or loss is not recognized in the period during which the exchange takes place. Rather, taxpayers are required to adjust the basis of assets exchanged. . The Emerson common stock will be valued based on the average of its closing prices over the ten trading days ending one day prior to the merger. In addition, Ronald G. Canada, chairman and chief executive officer of CSI CSI Crime Scene Investigator CSI CompuServe, Inc. CSI Commodity Systems, Inc. CSI Commodity Systems Inc. (Boca Raton, FL) CSI Crime Scene Investigation (CBS TV show) CSI Christian Schools International , who owns approximately 22 percent of CSI's outstanding stock, has granted an option to Emerson relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc his CSI shares. "The technologies in our business continue to evolve," said Ron Canada Ron Canada is an American actor. He began as a television newscaster during the 1970s in the Baltimore-Washington area until the early 1980s when he became an actor. Filmography (partial list)
"Continued product development is essential to CSI's future," added Ken Piety, vice chairman and chief technology officer. "This partnership with Emerson, which has a longstanding commitment to engineering and development, will help keep CSI on the leading edge of condition monitoring Condition monitoring is the process of monitoring a parameter of condition in machinery, such that a significant change is indicative of a developing failure. It is a major component of predictive maintenance. ." Based in St. Louis, Emerson Electric manufactures a broad range of electronic, electrical and related products for commercial, industrial and consumer markets worldwide. Sales for fiscal 1996 totaled $11.1 billion. Computational Systems, founded in 1984 and based in Knoxville, Tenn., is the world's leading designer, producer and marketer of condition-monitoring products and services for large, continuous process manufacturers and utilities. These products reduce or eliminate equipment downtime. Company revenues in 1996 were approximately $50 million. CONTACT: Computational Systems Inc., Knoxville Michele Ciechon, 423/675-2110 |
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