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4-Traders Homepage  >  Equities  >  Nyse  >  Rockwell Automation    ROK

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Rockwell Automation : Rejects Emerson Electric Takeover Bid

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10/31/2017 | 03:52pm CET
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 [email protected]

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Financials ($)
Sales 2018 6 740 M
EBIT 2018 1 323 M
Net income 2018 914 M
Finance 2018 54,7 M
Yield 2018 1,67%
P/E ratio 2018 26,82
P/E ratio 2019 24,25
EV / Sales 2018 3,68x
EV / Sales 2019 3,46x
Capitalization 24 879 M
Chart ROCKWELL AUTOMATION
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Rockwell Automation Technical Analysis Chart | ROK | US7739031091 | 4-Traders
Technical analysis trends ROCKWELL AUTOMATION
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 20
Average target price 184 $
Spread / Average Target -5,2%
EPS Revisions
Managers
NameTitle
Blake D. Moret President, Chief Executive Officer & Director
Keith D. Nosbusch Chairman
Robert B. Murphy Senior VP-Operations & Engineering Services
Patrick Goris Chief Financial Officer & Senior Vice President
Sujeet Chand Chief Technology Officer & Senior Vice President
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