Textron sells tools and test businesses

Textron said today it has completed the sale of its tools and test businesses and brands to Emerson for $810 million in cash.

"Included in the sale were all the Textron Tools & Test businesses and brands -- Greenlee, Greenlee Communications, Greenlee Utility, HD Electric, Klauke, Sherman+Reilly, and Endura," the company said.

Textron said it expects to use the proceeds to pay for additional share repurchases.