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Emerson Strikes Out as Rockwell Automation Rejects Third Bid

  • Target says proposed merger holds ‘significant long-term risk’
  • Bigger is not better, and would hurt growth: Rockwell CEO
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Rockwell Automation Inc. spurned a third takeover offer from Emerson Electric Co., saying the sweetened bid of $29 billion doesn’t outweigh the risks in bringing together the factory-robot specialists.

The proposed merger would stunt Rockwell’s growth and “create a company that is not well-positioned to compete successfully in the evolving market,” the Milwaukee-based company said Wednesday.