SPX Corp said it would sell its 44.5 percent stake in EGS Electric Group LLC to partner Emerson Electric Co for $571 million. SPX, which makes food and beverage production equipment, electrical transformers, and cooling towers for power plants, said it expects the sale to close in the first quarter of 2014.
Emerson Electric Co. (Emerson) is a diversified global technology company. Shares of EMR remained unchanged at $66.70. In the past year, the shares have traded as low as $49.83 and as high as $68.44. On average, 2884680 shares of EMR exchange hands on a given day and today's volume is recorded at 0.
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