Emerson agreed to purchase Automatic Switch.

Emerson Electric of St. Louis will acquire the manufacturer of industrial control equipment for more than $370 million, officials of both companies said. Under a definitive merger agreement, Emerson would exchange $45 worth of its stock for each of the 8.3 million shares of Automatic Switch, which is located in Florham Park, N.J. Directors of both companies have approved the deal. The agreement is subject to approval by Automatic Switch shareholders and a review by the Justice Department.