Emerson Offering $29B for Rockwell Automation
11.22.17
A previous $27.6B bid was rejected, according to Reuters.
After its initial $27.6 billion bid was rejected, Emerson Electric Co. upped the offer to buy Rockwell Automation Inc. to roughly $29 billion, Reuters reported.
According to the report, Emerson’s latest offer is for $225 per share – $135 per share in cash and $90 per share in Emerson stock.
In October, the Milwaukee, Wisc.-based Rockwell nixed a $215 per share – split in half between cash and shares – bid, according to Reuters.
St. Louis, Missouri-based Emerson said it estimates about $6 billion of savings from a potential deal, which equates to an additional $10 per share in value for Rockwell shareholders.
“We remain convinced there is compelling strategic, operational, and financial merit to bringing together our two companies,” Emerson Chief Executive David Farr said in a statement.
According to the report, Emerson’s latest offer is for $225 per share – $135 per share in cash and $90 per share in Emerson stock.
In October, the Milwaukee, Wisc.-based Rockwell nixed a $215 per share – split in half between cash and shares – bid, according to Reuters.
St. Louis, Missouri-based Emerson said it estimates about $6 billion of savings from a potential deal, which equates to an additional $10 per share in value for Rockwell shareholders.
“We remain convinced there is compelling strategic, operational, and financial merit to bringing together our two companies,” Emerson Chief Executive David Farr said in a statement.
