Greenlee and Klauke are sold to Emerson

Textron, which focuses on aerospace, has announced that it has sold its Tools & Tests  division to Emerson for approx. USD  810 m (EUR  655 m).

Included in the sale are all brands belonging to the Tools & Tests section, i.e. Greenlee, Greenlee Communications, Greenlee Utility, HD Electric, Klauke, Sherman + Reilly and Endura.

The transaction has yet to be approved by the various competition authorities, with a conclusion expected in the third quarter of 2018.

The proceeds will be used to fund additional share repurchases.