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European regulators have approved Emerson's planned $1.5 billion acquisition of British power supply company Chloride Group.

The European Commission said it concluded that the acquisition would not significantly impede effective competition.

"The merged entity would continue to face strong competition from a number of credible competitors in all national markets affected by the concentration," the panel said in a statement Tuesday. "Therefore, the commission concluded that the proposed transaction does not raise competition concerns."

Emerson and Chloride both provide uninterruptible power supply systems for computers and hospitals.

Emerson Chairman, President and Chief Executive David Farr said he wants to invest in faster-growth areas, such as network power, and divest of businesses that aren't growing as rapidly low interest personal loan.

Last week, Emerson announced a deal to sell its motors and appliance controls businesses to Kyoto, Japan-based Nidec Corp. for $700 million.

On Monday, Emerson said it planned to sell LANDesk Software, a Salt Lake City IT systems manager, to private equity investment firm Thoma Bravo.

Emerson (NYSE:EMR) is the second-largest public company in St. Louis with $20.9 billion in revenue in 2009. It has 129,000 employees companywide, including 1,400 in St. Louis after the motors business sale closes next month.

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