Rockwell rejects 23 bn offer
Rockwell Automation has confirmed on its website that it has rejected an unsolicited takeover offer from Emerson Electric of St. Louis, saying that this is in the interest of neither Rockwell Automation nor its numerous shareholders.
Rockwell confirms that Emerson had offered USD 215 (EUR 185) per share, making it a total of USD 27.61 bn (EUR 23.72 bn). Emerson had already tried to take Rockwell over in August, offering only USD 200 (EUR 172) per share, with half of the deal to be paid for in cash and the other half in Emerson’s common stock.
Just as a reminder: As long ago as 7.Nov.2016 we reported that Schneider Electric denied rumours then that they wanted to take over Rockwell for USD 18 bn (EUR 15.5 bn).