Rockwell Automation spikes 10%, then halted following report that it got multiple buyout offers

Markets Insider

Trading in Rockwell Automation shares was halted for news pending on Tuesday following a CNBC report that Emerson Electric made multiple offers to buy the company.

CNBC's David Faber reported, citing people familiar with the situation, that Emerson most recently made an offer for the industrial-automation company for $215 a share in October. The acquisition, which Emerson has repeatedly shrugged off, would be worth more than $27 billion.

Rockwell Automation shares jumped by as much as 10% before the halt, while Emerson was down 2%. Emerson was also halted.

More to come ...