Deals
D.E. Shaw Takes Emerson Electric Stake, Pushes for Split
- Activist is said to potentially push for share buyback
- Company’s shares have fallen 14% over the past 12 months
Emerson Electric Co. Rigid Tool brand power tools.
Photographer: Mark Kauzlarich/BloombergThis article is for subscribers only.
Hedge fund D.E. Shaw has built a stake in Emerson Electric Co. and plans to push for a breakup of the automation-equipment maker, according to people familiar with the matter.
The New York-based firm also may push for the company to consider taking on additional debt to fund a buyback of around $7 billion of its shares, said the people, who asked to not be identified because the matter isn’t public.