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Electronics Production |
Emerson withdraws offer for Rockwell Automation
Emerson says that it has withdrawn its proposal to acquire Rockwell Automation for USD 225 per share due to the Rockwell Board of Directors’ continued unwillingness to engage in discussions about a potential combination.
“The Rockwell Board again rejected our offer, which would have delivered approximately $30 billion of value to Rockwell shareholders,” said Emerson Chairman and Chief Executive Officer David N. Farr i a press release. “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.”
However, Emerson is confident in the strategic plan which it has in place, as well as the company’s ability to meet customer need with its portfolio.
“Our Company is in a great position – we have successfully repositioned our portfolio over the last two years, and have market-leading platforms in Automation Solutions and Commercial & Residential Solutions, both of which are performing well and have very attractive growth outlooks. Our future is bright, and we remain focused on accelerating core growth through new market penetration, technology innovation and strategic bolt-on acquisitions,” David N. Farr continues.
