Emerson has a clear understanding of what is required to receive the final regulatory approvals from the U.S. Federal Trade Commission and the Mexican Federal Economic Competition Commission for completion of the acquisition of Pentair's Valves & Controls business.
In response, we have already entered into an agreement subject to Federal Trade Commission approval to divest a business within Pentair's Valves & Controls business which is not material to the underlying objectives with which we entered into the acquisition. Thus, we are very optimistic that we will receive final regulatory approval and be able to close by the end of April.
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