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EMERSON ELECTRIC CO. AGREES TO ACQUIRE FISHER CONTROLS FROM MONSANTO COMPANY

 EMERSON ELECTRIC CO. AGREES
 TO ACQUIRE FISHER CONTROLS FROM MONSANTO COMPANY
 ST. LOUIS, Aug. 4 /PRNewswire/ -- Emerson Electric Co. (NYSE: EMR) and Monsanto Company (NYSE: MTC), both based in St. Louis, today announced that they have signed an agreement under which Emerson would purchase the worldwide business of Fisher Controls International, Inc., a wholly owned subsidiary of Monsanto. The purchase price is $1.275 billion. The announcement was made jointly by Richard J. Mahoney, chairman and chief executive officer of Monsanto, and Charles F. Knight, chairman and chief executive officer of Emerson.
 The agreement has been approved by the respective boards of directors and the transaction is expected to close as soon as practicable.
 Fisher, headquartered in suburban St. Louis, is a producer of control valves and control systems for major process industries including chemical, oil and gas and pulp and paper.
 Monsanto Company makes and markets high value chemical and agricultural products, pharmaceuticals and low calorie sweeteners. Sales in 1991 were $8.9 billion.
 Emerson Electric Co. manufactures a broad range of electronic, electrical and other products for consumer, commercial and industrial markets. Fiscal 1991 sales totaled $7.4 billion.
 -0- 8/4/92 R
 /CONTACT: James R. Orso or William K. Anderson, 314-982-1730, for Emerson Electric Co./
 (EMR MTC) CO: Emerson Electric Co.; Monsanto Company; Fisher Controls
 International, Inc. ST: Missouri IN: CPR SU: TNM


GK -- NY008R -- 6579 08/04/92 10:46 EDT
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Date:Aug 4, 1992
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