The European Commission Tuesday cleared U.S. industrial conglomerate Emerson Electric Co. (EMR) to buy U.K. electrical engineering firm Chloride Group (CHLD.LN).

The combined company would create one of the world's largest suppliers of uninterruptible power equipment.

Emerson will pay 375 pence a share for Chloride, which was also considering a bid from Swiss electrical engineering firm ABB Ltd. (ABB)

-By Matthew Dalton, Dow Jones Newswires; +32 2 741 1487; matthew.dalton@dowjones.com
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