Rockwell jumps in premarket on new Emerson bid
Rockwell Automation (NYSE:ROK) shares advanced in Thursday’s premarket deals after Emerson Electric increased its proposed takeover offer.
Emerson is now prepared to pay US$225 per share to Rockwell shareholders, valuing the business at around US$29bn, with the buyer willing to pay US$135 per share in cash and remainder in Emerson stock.
The previous unsolicited offer was pitched at US$215 per share, including US$107.5 in cash, and it was turned down last month.
In premarket deals Rockwell was changing hands at US$202.49 per share, up 7.29%.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/187378/rockwell-jumps-in-premarket-on-new-emerson-bid-187378.html
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