Rockwell Automation, Inc., rejected rival Emerson Electric Co’s takeover offer, stating the $29bn bid undervalued the industrial automation company.
Rockwell Automation questioned the strategic rationale for a merger with Emerson. As reported, Rockwell Automation said its board of directors was unanimous in concluding that Emerson’s latest offer — about $2bn higher than a previous proposal — was “not in best interests of the company and its shareowners.” Earlier this month,…
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