Emerson sweetens bid for Rockwell Automation to $29 billion
Emerson Electric upped its bid on Rockwell Automation after a rival said Emerson undervalued the company.
Emerson is now offering $29 million for Rockwell, up from it’s $27.6 billion bid last month which Rockwell rejected. The latest offer comes out to $225 per share, comprising of $135 per share in cash and $90 per share in Emerson stock.
"The industrial logic for this combination is clear. A combination of Emerson and Rockwell would create a leader in the $200 billion global automation market,” said Emerson CEO David Farr in a statement.
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