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ROCKWELL AUTOMATION (ROK)
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Rockwell Automation : Rejects Emerson Electric Takeover Bid

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10/31/2017 | 03:52pm CEST
By Dana Cimilluca 

Emerson Electric Co. has made a roughly $27.5 billion takeover offer for Rockwell Automation Inc. that was rejected, according to a person familiar with the matter.

For months, Emerson has been stalking Rockwell privately, making a $200-a-share bid in early August and another one valued at $215 a share -- half stock, half cash in early October, the person said, adding that both were rejected. Rockwell shares have been steady rising since the latter offer was made, and surged another 10% to $206.21 Tuesday morning after CNBC first reported the news.

It is not clear why Rockwell turned away Emerson's advances. An Emerson spokesman confirmed that the company has made an offer for Rockwell, but would't say more. A Rockwell spokesman declined to comment but said the company would be issuing a statement.

Emerson sees $6 billion of synergies from the potential deal, the person said. Should Emerson succeed, which is far from guaranteed, the combined company would have a "center of excellence" in Milwaukee, where Rockwell is based, and include Rockwell's name, the person added.

Andrew Tangel and Bob Tita contributed to this article.

Write to Dana Cimilluca at dana.cimilluca@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
EMERSON ELECTRIC 1.01% 71.92 Delayed Quote.3.20%
ROCKWELL AUTOMATION 1.28% 172.79 Delayed Quote.-12.00%
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Financials ($)
Sales 2018 6 711 M
EBIT 2018 1 316 M
Net income 2018 525 M
Debt 2018 1 160 M
Yield 2018 2,00%
P/E ratio 2018 48,09
P/E ratio 2019 19,78
EV / Sales 2018 3,34x
EV / Sales 2019 3,18x
Capitalization 21 282 M
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Technical analysis trends ROCKWELL AUTOMATION
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 22
Average target price 180 $
Spread / Average Target 4,3%
EPS Revisions
Managers
NameTitle
Blake D. Moret Chairman, President & Chief Executive Officer
Robert B. Murphy Senior VP-Operations & Engineering Services
Patrick P. Goris Chief Financial Officer & Senior Vice President
Sujeet Chand Chief Technology Officer & Senior Vice President
Christopher Nardecchia Chief Information Officer & Senior VP-IT
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