Shares of Emerson Electric Co rose as much as 4% after Reuters was first to report that hedge fund D.E. Shaw & Co was building a stake in the industrial conglomerate and was planning to push for changes, including a potential break-up. Emerson, which pursued an unsuccessful $29 billion acquisition bid for peer Rockwell Automation Inc two years ago, has long been seen as a potential break-up candidate among investors and analysts.
Reuters reveals Hedge fund D.E. Shaw to push for break-up of Emerson; market reacts
27 September 2019, 12:00 am 1 minute
Type: Reuters Best