- Emerson Electric raised its bid for Rockwell Automation to $29 billion.
- It's the company's third attempt to buy Rockwell.
Emerson is now proposing to pay Rockwell about $29 billion, a 4.7% increase over its $27.6 billion offer last month, which was rejected. This marks the third time Emerson has approached Rockwell with new deal terms.
The new offer is to acquire all outstanding shares of Rockwell for $225 apiece, consisting of $135 per share in cash and $90 per share in Emerson shares.
Since Rockwell is a major supplier of software and controls for assembly lines, the deal would bolster Emerson's operations in the area and help improve the company's position in the automation market.
"The industrial logic for this combination is clear. A combination of Emerson and Rockwell would create a leader in the $200 billion global automation market," Emerson said in a statement.