Emerson withdrew its proposal to acquire Rockwell

(courtesy of Emerson)

(courtesy of Emerson)

Emerson today announced that it has withdrawn its proposal to acquire Rockwell Automation, as it announced some weeks ago, for $225 per share due to the Rockwell Board of Directors’ continued unwillingness to engage in discussions about a potential combination, according to a press release by Emerson.
The frustration is evident in the words by Emerson’s CEO, David N. Farr: “We are disappointed that the Rockwell Board refused even to discuss the potential combination of our two great companies. Instead of engaging in constructive dialogue, the Rockwell Board decided to let this unique and value-generative opportunity go unexplored.”