Emerson’s Reportedly Hefty Bid for Rival Rockwell Automation Highlights a Pricey Deal Environment
Shares of wide-moat Rockwell Automation soared on Oct. 31 after CNBC reported that wide-moat Emerson Electric offered an eye-popping $215 per share to acquire the company. This represents a nearly 15% premium over Rockwell’s closing price on Oct. 30 and a hefty 60% premium over our fair value estimate of $134 per share. At $215 per share, the offer values Rockwell Automation at an enterprise value of approximately $27 billion, or more than 19 times our 2018 EBITDA estimate. Rockwell reportedly d...Rockwell Automation is a provider of industrial automation and digital transformation. The company's segments include: Architecture and Software, which contains automation and information platforms, including hardware and software; and Control Products and Solutions, which combines motor control and industrial control products, other solutions and a portfolio of lifecycle services. The company's automation platform products include programmable automation controllers, design, networking products, sensing devices, machine safety devices, motion control products, and independent cart technology products. The company's information platform includes manufacturing execution system software and analytics software.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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