12152017Fri
Last updateThu, 14 Dec 2017 8pm

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Valve Manufacturing

Emerson Withdraws Proposal to Acquire Rockwell Automation

Emerson has withdrawn its proposal to acquire Rockwell Automation for $225 per share due to the Rockwell Board of Directors’ continued unwillingness to engage in discussions about a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 CEO David N. Farr.

“Accordingly, we plan to accelerate repurchases over the next month and buy back up to $1 billion over the next 12 months.” 

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