Emerson Electric Co. (NYSE: EMR) recently divested the remaining 40% common equity ownership in Copeland to Blackstone Inc. (NYSE: BX). The transaction was valued at approximately $3.5 billion, with pre-tax cash proceeds of $3.4 billion. Headquartered in New York, Blackstone Inc. is an asset manager of alternative investments and a provider of financial advisory services globally. Effective Sep 18, 2023, the company joined the S&P 500 index, becoming the first major alternative asset manager to be part of the index. As of Mar 31, 2024, total AUM was $1.06 trillion and fee-earning AUM was $781.4 billion. Based in the United States, Copeland is an independent company, which offers a diverse range of products, including compressors, controls, thermostats, valves and software solutions. These products serve residential, commercial and industrial customers around the globe. The divestment of Copeland will help Emerson to focus on its core businesses and to strengthen its position as a global leader in automation. The company expects to use ...