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Rockwell jumps in premarket on new Emerson bid

Last updated: 08:49 16 Nov 2017 EST, First published: 03:49 16 Nov 2017 EST

Trader pointing up
Rockwell share were up more than 7%

Rockwell Automation (NYSE:ROK) shares advanced in Thursday’s premarket deals after Emerson Electric increased its proposed takeover offer.

Emerson is now prepared to pay US$225 per share to Rockwell shareholders, valuing the business at around US$29bn, with the buyer willing to pay US$135 per share in cash and remainder in Emerson stock.

The previous unsolicited offer was pitched at US$215 per share, including US$107.5 in cash, and it was turned down last month.

In premarket deals Rockwell was changing hands at US$202.49 per share, up 7.29%.

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