Why Rockwell Automation's Shares Popped 13% This Morning
Shares of industrial supplier Rockwell Automation (NYSE: ROK) jumped as much as 12.7% in trading Tuesday after announcing it has rejected multiple buyout offers from Emerson Electric (NYSE: EMR). Shares were halted early in trading so investors could digest the rumors and Rockwell could release an official statement on the rejected offers, but were still trading 5.5% higher at 11:30 a.m. EDT.
Over the past few months, Emerson has made multiple bids for Rockwell, including a $200-per-share offer on Aug. 2 and a $214.50-per-share offer on Oct. 17. Both offers were for half cash and half Emerson stock, but the board of directors didn't think either was sufficient.
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Source: Fool.com
Emerson Electric Company Stock
€95.04
1.390%
Emerson Electric Company is currently one of the favorites of our community with 19 Buy predictions and no Sell predictions.
As a result the target price of 116 € shows a positive potential of 22.05% compared to the current price of 95.04 € for Emerson Electric Company.
