Rockwell Automation board unanimously rejects Emerson proposal
The company said, “The Rockwell Automation Board of Directors, in consultation with its financial and legal advisors, has thoroughly considered Emerson’s November 16 proposal and has unanimously determined that it is not in the best interests of Rockwell Automation and its shareowners.
Emerson’s proposal undervalues Rockwell Automation and its prospects for continued growth and value creation, presents significant long-term risk for Rockwell Automation’s shareowners, and would create a company that is not well-positioned to compete successfully in the evolving market.
The Board believes that continuing to execute Rockwell Automation’s successful strategy, which is generating extraordinary returns for the company’s shareowners, will create greater long-term value than pursuing Emerson’s proposal.”
ROK closed at $193.02. EMR closed at $60.35.
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