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Emerson Electric Co (EMR.N)

EMR.N on New York Stock Exchange

59.85USD
17 Nov 2017
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$0.83 (+1.41%)
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Latest Key Developments (Source: Significant Developments)

Emerson proposes to acquire Rockwell Automation in cash and stock transaction valued at $29 billion
Thursday, 16 Nov 2017 06:55am EST 

Nov 16 (Reuters) - Emerson Electric Co :Emerson proposes to acquire Rockwell Automation for $225 per share in cash and stock transaction valued at $29 billion.Emerson proposes to acquire Rockwell Automation for $225 per share in cash and stock transaction valued at $29 billion.Emerson Electric Co - new proposal ‍consists of $135 per share in cash and $90 per share in emerson shares​.Emerson Electric Co - ‍proposal is not subject to any financing contingency​.Emerson Electric Co - ‍portion of consideration to be paid in Emerson stock would result in Rockwell shareholders owning approximately 22 pct of combined co​.Emerson Electric Co - ‍estimate total capitalized value of synergies to be over $6 billion, equating to over $10/share of additional value to rockwell shareholders ​.Emerson Electric Co - ‍including value of synergies, Rockwell shareholders would receive $235 per share in total value​.Emerson Electric Co - ‍expect transaction would be accretive to adjusted EPS and free cash flow in year one​.Emerson Electric Co - ‍estimated synergies & operating efficiencies from deal would result in operating margin of about 20 pct as well as double-digit EPS growth​.Emerson Electric Co - Jpmorgan is "highly confident" that co can finance cash portion of proposed deal with combination of cash, newly issued debt​.  Full Article

Temasek Holdings takes share stake in Vantiv Inc, raises share stake in Amgen
Tuesday, 14 Nov 2017 07:13am EST 

Nov 14 (Reuters) - Temasek Holdings (Private) Ltd :Temasek Holdings (Private) Ltd takes share stake of 982,057 Class A shares in Vantiv Inc <<>> - SEC filing.Temasek Holdings (Private) Ltd raises share stake in Emerson Electric Co to 28,000 shares from 5,146 shares.Temasek Holdings (Private) Ltd raises share stake in Amgen Inc by about 25 percent to 188,527 shares.Temasek Holdings (Private) Ltd raises share stake in Biogen Inc by about 25 percent to 118,644 shares.Temasek Holdings (Private) Ltd - Change in holdings are as of Sept 30, 2017 and compared with the previous quarter ended as of June 30, 2017.Source text for quarter ended Sept 30, 2017 (http://bit.ly/2yBi2ic).Source text for quarter ended June 30, 2017: (http://bit.ly/2vUxgkf).  Full Article

Rockwell Automation to focus on its strategic plan after Emerson's bid - Conf call‍​
Wednesday, 8 Nov 2017 08:30am EST 

Nov 8 (Reuters) - Rockwell Automation Inc :Says would continue to execute on its strategic plan, referring to Emerson's interest in Rockwell.Says incentive compensation to be a modest headwind for FY 2018 Q1, while a year-over-year tailwind for overall fiscal 18.Says does not expect year-over-year EPS growth in Q1, partly due to unusually low tax rate last year‍​.Says China did about 12 percent of growth in FY17; expects China to be a little bit below at close to 10 percent in FY18.Says expects its automotive business to grow in low-single digits in FY18, below the company average.Says expects its consumer business to grow at about the company average, and heavy industry business to grow a little above.Sees broad-based recovery in heavy industries in FY18.Expects continued strong growth in powertrain and EV in FY18, despite overall automotive business growing in low single digits.  Full Article

Emerson Electric reports Q4 earnings from continuing operations per share $0.77
Tuesday, 7 Nov 2017 06:55am EST 

Nov 7 (Reuters) - Emerson Electric Co :Emerson reports full year and fourth quarter 2017 results.Emerson Electric Co qtrly net sales $4,435​ million versus $3,932 million last year.Emerson Electric Co - qtrly earnings from continuing operations per share $0.77 ‍​.Emerson Electric Co - qtrly diluted earnings per common share $0.78 ‍​.Emerson Electric Co - ‍in fiscal 2018, company expects oil and gas prices to remain stable in a range favorable for energy related markets​.Q4 earnings per share view $0.79, revenue view $4.45 billion -- Thomson Reuters I/B/E/S.Emerson Electric Co - fy 2018 reported (GAAP) net earnings per share are expected to be $2.66 to $2.86 ‍​.Emerson Electric Co sees 2018 ‍total co net sales to be up 8 to 10 percent, with underlying sales up 4 to 6 percent excluding 4 percent impact from acquisitions, others​.Emerson Electric Co - fy 2018 adjusted net eps expected to be $2.75 to $2.95, excluding items.Emerson Electric Co - ‍"market conditions began trending favorably for Emerson in second half of 2017, and we expect 2018 to continue that trajectory"​.Fy2018 earnings per share view $2.90, revenue view $16.79 billion -- Thomson Reuters I/B/E/S.  Full Article

Emerson says no discussions currently ongoing with Rockwell Automation
Tuesday, 31 Oct 2017 10:31am EDT 

Oct 31 (Reuters) - Emerson Electric Co ::Emerson confirms private offer made to Rockwell Automation.Confirmed that it made a private offer to Rockwell Automation proposing a combination of two companies​.Company's ‍proposal was rejected by Rockwell Automation and no discussions are currently ongoing between two companies​.  Full Article

Rockwell Automation says board rejected takeover proposals from Emerson
Tuesday, 31 Oct 2017 10:22am EDT 

Oct 31 (Reuters) - Rockwell Automation Inc ::Rockwell Automation board of directors unanimously rejected unsolicited proposals from Emerson.Rejected Emerson's proposal received on Oct. 10 consisting of $107.50/share in cash & 225 million shares of Emerson stock​.Emerson's proposal on Oct. 10 followed unsolicited proposal from Emerson on August 2 to buy company for $200/share.Following reviews, board unanimously determined that each of Emerson's proposals was not in best interest of company.  Full Article

Emerson Electric has made multiple offers for Rockwell Automation - CNBC
Tuesday, 31 Oct 2017 09:12am EDT 

Oct 31 (Reuters) - :Emerson Electric has made multiple offers for Rockwell Automation - CNBC, citing sources.Emerson Electric offer values Rockwell Automation at $27.6 billion - CNBC, citing sources.Rockwell Automation rebuffs offers from Emerson Electric - CNBC‍​.  Full Article

Emerson says ‍hurricanes Harvey and Irma only "moderately affected" Q4 sales
Monday, 23 Oct 2017 06:55am EDT 

Oct 23 (Reuters) - Emerson Electric Co :Emerson updates business conditions and preliminary financial results following recent hurricane events.Emerson Electric Co sees ‍net sales in Q4 of $4.4 billion increased 13 percent​.Sees Q4 earnings per share $0.77 from continuing operations.Emerson Electric - ‍Hurricanes Harvey and Irma only "moderately affected" Q4 sales, and co expects to recover sales over next twelve months​.Q4 earnings per share view $0.78, revenue view $4.44 billion -- Thomson Reuters I/B/E/S.  Full Article

Emerson agrees to acquire Paradigm
Monday, 16 Oct 2017 09:00am EDT 

Oct 16 (Reuters) - Emerson Electric Co ::Emerson agrees to acquire Paradigm.Emerson agrees to acquire Paradigm.Emerson Electric Co - deal for ‍$510 million​.  Full Article

Griffon, Emerson amend previously announced purchase agreement for ClosetMaid acquisition
Tuesday, 26 Sep 2017 04:01pm EDT 

Sept 26 (Reuters) - Griffon Corp ::Griffon corp - ‍co and emerson entered into an amendment to previously announced purchase agreement for griffon to acquire closetmaid corp.Griffon corp - ‍amendment provides for a reduction in purchase price from $260 million to $200 millio​n.Griffon corp - ‍in first full year of operations, griffon expects closetmaid to contribute approximately $0.08 in earnings per share​.Griffon corp - the griffon & emerson joint election will generate tax benefit with estimated present value of $25 million for griffon and its shareholders.Griffon corp - ‍amendment provides for a reduction in purchase price from $260 million to $200 million​.Griffon corp - ‍in first full year of operations, griffon expects closetmaid to contribute about $300 million in revenue​.Says acquisition of closetmaid will be immediately accretive to griffon's cash flow and earnings.Griffon corp - ‍after taking into account tax benefits resulting from transaction, effective purchase price was reduced from $225 million to $175 million​.Griffon corp- acquisition of closetmaid is expected to be financed through committed debt financing in form of senior notes offering and cash on hand.  Full Article

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Emerson sweetens bid for Rockwell Automation to $29 billion

U.S. industrial automation equipment company Emerson Electric Co raised its cash-and-stock offer to acquire Rockwell Automation Inc to $29 billion on Thursday, ratcheting up pressure on its smaller peer to engage in deal talks.