Rockwell Seen Assembling $16 Billion Deal: Real M&A

Rockwell Automation Inc. is proving that demand for assembly-line components could pave the way for the second-biggest U.S. industrial acquisition on record.

The company’s profit from parts and technology used in factories that produce everything from cars to packaged food has made it a recurring subject of takeover speculation. Now, an industrial conglomerate such as Emerson Electric Co. or Honeywell International Inc. may become interested, MKM Partners LLC said. Nomura Holdings Inc. said private-equity firms also could be drawn to Milwaukee-based Rockwell’s low debt and free cash flow yield, which topped 92 percent of manufacturing equipment providers, according to data compiled by Bloomberg.