Reports : Siemens Among Parties Interested In Emerson Electric's Network Unit

(RTTNews) - German conglomerate Siemens AG (SIEGY, SMAWF, SIEGY) is among companies that have expressed preliminary interest in Emerson Electric Co.'s (EMR) network power division, according to reports citing people familiar with the matter.

Emerson, which is exploring a spinoff of the unit, has fielded inquiries from the German industrial company and buyout firms. No final decisions have been made, Siemens may decide against pursuing a deal and Emerson could still go ahead with a spinoff instead of a sale. It couldn't be confirmed whether talks are ongoing.

Emerson Electric in June 2015 announced plans to spin off its network power division and explore options for other operations, including motors and drives, to focus on more profitable units.