The Associated Press September 3, 2010, 8:41AM ET

Emerson Electric finishes $1.5B Chloride deal

Emerson Electric Co. completed a $1.5 billion acquisition of Britain's Chloride Group, the company said Friday.

Emerson and Chloride both make backup power systems, or uninterruptible power systems, for the nuclear industry, data centers, emergency services and hospitals.

Emerson, which is based in St. Louis, said the deal adds to its "long-term global growth strategy for uninterruptible power supply and integrated data center solutions."

Chloride Group, a power company, will be part Emerson Network Power.

Chloride said in July it had accepted a takeover bid from its U.S. competitor after Swiss company ABB Ltd. failed to match Emerson's offer.

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