logo
Plus   Neg
Share
Email
Comment

Emerson Withdraws Proposal To Acquire Rockwell Automation - Quick Facts

Emerson (EMR) said it has withdrawn its proposal to acquire Rockwell Automation Inc. (ROK) for $225 per share due to the Rockwell board of directors' continued unwillingness to engage in discussions about a potential combination.

"We are disappointed that the Rockwell Board refused even to discuss the potential combination of our two great companies. Instead of engaging in constructive dialogue, the Rockwell Board decided to let this unique and value-generative opportunity go unexplored," Emerson Chairman and Chief Executive Officer David Farr said,

Emerson said it confident in the strategic plans it has in place, and in its ability to create a global automation leader with a technology portfolio to meet evolving customer needs across process, hybrid and discrete product lines.

Further, Emerson said it is committed to returning capital to shareholders through its growing dividend and its share repurchase program. The company plans to accelerate share repurchases over the next month and buy back up to $1 billion over the next 12 months.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amid a government shutdown, the Senate voted Monday to move forward on a short-term spending bill to re-open the government. The Senate voted 81 to 18 in favor of limiting debate on the bill, which would fund the government through February 8th. Opera, a web browser for Windows, macOS, and Linux operating systems, has added cryptocurrency mining protection to its mobile browsers. It is part of the browser's ad blocker function. In its desktop-based versions, Opera had introduced cryptocurrency miner protection in early January. French drug giant Sanofi SA Monday announced an agreement to buy US-based hemophilia drugmaker Bioverativ Inc. (BIVV) for around $11.6 billion. The deal expands Sanofi's presence in specialty care and strengthens leadership in rare diseases. Sanofi shares were losing around 4 percent in the early morning trading in Paris.
comments powered by Disqus
Follow RTT