Rockwell Automation is using Joele Frank, Wilkinson Brimmer Katcher as it rejects an unsolicited $28B takeover bid by Emerson, the St. Louis-based industrial/residential products giant.
After consulting with financial and legal advisors, Rockwell’s board unanimously decided that Emerson’s $200 per-share offer of stock/cash was not in the best interest of shareholders.
CEO Blake Moret said the board is confident that his management’s strategic direction and ability will deliver superior levels of growth and value creation.
Emerson confirmed the private offer made to the Milwaukee-headquartered company and said it “remains a disciplined acquirer and will only pursue transactions that are in the best interests of its shareholders.”
JF’s Barrett Golden, Jamie Moser and Scott Bisang rep Rockwell.