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

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Rockwell Automation : Rejects Emerson Electric Takeover Bid -- Update

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10/31/2017 | 04:07pm 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 the Milwaukee-based maker of industrial equipment 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 the St. Louis conglomerate'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 and include Rockwell's name, the person added.

Both companies specialize in making products used in the manufacturing process, but with specialties in different sectors. Emerson has largely been involved in the production of chemicals or other items made in outdoor facilities, while Rockwell has focused on manufacturing inside factories of products such as cars, food and appliances.

Andrew Tangel and Bob Tita contributed to this article.

Write to Dana Cimilluca at [email protected]

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Financials ($)
Sales 2018 6 729 M
EBIT 2018 1 314 M
Net income 2018 915 M
Finance 2018 54,7 M
Yield 2018 1,66%
P/E ratio 2018 26,86
P/E ratio 2019 24,34
EV / Sales 2018 3,70x
EV / Sales 2019 3,47x
Capitalization 24 976 M
Chart ROCKWELL AUTOMATION
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Rockwell Automation Technical Analysis Chart | ROK | US7739031091 | 4-Traders
Technical analysis trends ROCKWELL AUTOMATION
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 183 $
Spread / Average Target -6,0%
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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