Emerson appears to have won its two year battle to buy UK UPS vendor Chloride after rival bidder ABB today decided not to up its offer.
An initial offer made in May 2008 was rejected by Chloride management, as was a bid it tabled this April but the situation intensified a month later when Swiss engineering firm ABB entered the fray with an offer worth £864m.
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However, earlier this week Emerson upped the stakes with a counter bid of just under £1bn and has been left in pole position after ABB refused to up its offer.
As a result, Chloride confirmed it "intends to enter into discussions with Emerson Electric with respect to its offer for Chloride".
London-based Chloride, which has been producing UPS systems since 2000, also manufactures batteries and has a presence in 15 countries.