Siemens Chief Executive Joe Kaeser might again make 2016 a year of blockbuster takeovers and deals.
Munich-based Siemens is in early-stage talks with Emerson Electric to buy the U.S. company’s network power business, news agencies Reuters and Bloomberg reported late Monday, citing unnamed people familiar with the matter.
The business could be worth as much as $4 billion, or €3.5 billion, according to Reuters. Emerson Network Power had sales of $4.4 billion in its fiscal year 2015, which ended on September 30 last year.
Siemens, which has spent around $10 billion on acquisitions since December 2013, declined to comment on the reports when contacted by Handelsblatt Global Edition.