Emerson sweetens bid for Rockwell Automation to $29 billion

Greg Roumeliotis for Reuters:  U.S. industrial automation equipment company Emerson Electric Co raised its cash-and-stock offer to acquire Rockwell Automation Inc to $29 billion on Thursday, ratcheting up pressure on its smaller peer to engage in deal talks.

The new offer follows Rockwell’s rejections of Emerson’s overtures for much of this year. Rockwell’s CEO Blake Moret said last week he wanted to stick with delivering the company’s factory automation equipment on one platform.

“As it did with Emerson’s prior proposals... the board of directors of Rockwell Automation will carefully review Emerson’s proposal to determine the course of action that it believes is in the best interest of the company and Rockwell Automation shareowners,” Rockwell said in a statement on Thursday.

Rockwell shares were up 4.7 percent at $197.57. Emerson shares were up 0.2 percent at $59.25, giving the company a market capitalization of $38 billion.

Milwaukee, Wisconsin-based Rockwell said last month it had rejected a $215-per-share bid from Emerson, split in half between cash and shares.  Full Article:

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Model 30MT Magnetic Encoder Module

Model 30MT Magnetic Encoder Module

The Model 30MT is a compact magnetic encoder module designed for the most extreme environments. It offers sealing up to IP69K, an operating temperature range of -40° to 120° C, and a shock and vibration rating that conforms to Mil-STD-202G. With a large air gap and tolerance to misalignment, up to 1024 CPR (4096 PPR with Quadrature Counting), and easy alignment and installation, the Model 30M or is an excellent solution where you need motion feedback in your robotics application.