CBS Corp. selling unit for $265 mil

Emerson Electric buys Westinghouse Process Control

NEW YORK — CBS Corp. signed a definitive agreement to sell its Westinghouse Process Control unit to Emerson Electric Co. for $265 million in cash, plus the assumption of pension and other liabilities.

The transaction is expected to close in the third quarter of 1998 following receipt of normal regulatory approvals.

Westinghouse Process Control manufactures and installs distributed control and information systems to the power generation, wastewater treatment, metals, chemical and other process industries.

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