Emerson announced that its chairman and CEO, David N Farr, has sent a letter to Rockwell Automation President and CEO, Blake D Moret, proposing to acquire all outstanding shares of Rockwell for $225 per share, consisting of $135 per share in cash and $90 per share in Emerson shares.
The total enterprise value of the transaction is approximately $29bn.
Emerson, headquartered in St Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets.
Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximise production, protect personnel and the environment while optimising their energy and operating costs.
Emerson Commercial and Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure.