October 31, 2017 / 1:25 PM / a year ago

Emerson Electric made multiple offers for Rockwell Automation - CNBC

Oct 31 (Reuters) - Factory automation equipment maker Emerson Electric Co has made multiple offers for smaller rival Rockwell Automation Inc, CNBC reported on Tuesday, citing people familiar with the matter.

The latest offer, which valued Rockwell at more $27.6 billion, was met with a terse rejection, according to people with knowledge of the correspondence, the report said.

The $215 offer was made in early October, CNBC reported, and is about 15 percent higher than the stock’s Monday closing price. (Reporting by Ankit Ajmera in Bengaluru; Editing by Saumyadeb Chakrabarty)

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