By Editors of Power Engineering
Though Emerson Electric planned to buy out Rockwell Automation, Rockwell rejected the offer, the Wall Street Journal reported.
Emerson made multiple bids, one at $200 per share in August and another at $215 per share – or $27.5 billion – in October. However, it wasn’t clear why Rockwell declined the buyout, and company officials did not offer immediate comment.
A source familiar with the deal said the buyout would have kept Rockwell’s name alive.