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Emerson (EMR) said it has withdrawn its proposal to acquire Rockwell Automation Inc. (ROK) for $225 per share due to the Rockwell board of directors' continued unwillingness to engage in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

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