News » World News Emerson withdraws $29bn bid for Rockwell after target rejects it as poor value
UPDATED: Emerson has withdrawn its latest $29bn bid for Rockwell Automation "due to the Rockwell board of directors' continued unwilingness to engage in discussions about a potential combination".
Eaton enters the enclosed drives market in Europe
Eaton is entering the enclosed drives market in the EMEA region and is launching this extended capability at this month’s SPS IPC Drives exhibition in Germany. The company will offer combinations of drives, protection and control equipment built into pre-wired and tested cabinets, which can be configured to user requirements. The range will cover power ratings from 18.5–630kW, 400V.
FBI and DHS warn of cyber-security threat to critical sectors
The FBI (Federal Bureau of Investigation) and Department of Homeland Security (DHS) in the US have issued a warning about an “advanced persistent threat” that, since at least May 2017, has been targeting government bodies, critical manufacturing sectors, and organisations in the energy, water and aviation sectors. They say that, working with US and international partners, they have identified victims in these sectors that have been subjected to a multi-stage intrusion process which first targets low-security and small networks to gain access, and then moves onto networks of major, high-value-asset owners.
Emerson increases its bid for Rockwell from $27bn to $29bn
UPDATED: Following Rockwell Automation’s recent rejection of a $27bn bid from Emerson for its business, Emerson has increased its offer to $29bn. Emerson is proposing to acquire all of Rockwell’s shares for $225 per share, consisting of $135 in cash and $90 in Emerson shares.
Rockwell Automation rejects $27bn bid from Emerson
Rockwell Automation has revealed that it has rejected at least two attempts by Emerson to acquire its business. In August, Emerson made an unsolicited bid, offering $200 per Rockwell Automation share, with approximately half of the offer in cash and half in Emerson shares. After Rockwell rejected this bid, Emerson made an increased offer on 10 October, consisting of $107.50 per share in cash and 225 million shares of Emerson common stock, worth about $107.50 per share.
Danfoss buys Finnish developer of ‘most efficient’ drivetrain
Danfoss is buying Visedo Oy, a Finnish developer of smart hybrid and electric drivetrains for commercial vehicles, heavy-duty machinery and marine applications. The terms of the deal have not been released.
Pentair spins off electrical activities into a new company
Pentair plc is spinning off its electrical activities – including the Schroff, Hoffman, Caddy, Erico, Raychem and Tracer brands – into a new company to be called nVent Electric. Its water activities will retain the Pentair name. The separation into two independent, publicly-traded companies is due to be completed in the second quarter of 2018.
Apple and GE join up to bring industrial apps to iPhones
Apple and GE have formed a partnership to deliver industrial apps that will bring predictive data and analytics from Predix, GE’s industrial Internet of Things (IoT) platform, to Apple's iPhones and iPads. The two companies have unveiled a software development kit (SDK) for Apple's iOS operating system, that gives developers the tools to make their own Predix-based industrial IoT apps.
Toyota and Hitachi to install IoT platform at automotive plants
Toyota Motor Corporation and Hitachi are collaborating to build an efficient production model based on Hitachi’s Lumada IoT (Internet of Things) platform, which incorporates technologies such as AI (artificial intelligence) and big data analysis.
Weidmüller buys W Interconnections from Rockwell
The German connectivity and automation manufacturer, Weidmüller, has bought Rockwell Automation’s W Interconnections group, which operates in the US, Canada and Mexico, with effect from 1 October, 2017. The group sells products for industrial connectivity and automation. Both parties have agreed not to disclose the purchase price or contractual details.
A third of industrial controls hit by cyber-attacks in early 2017
During the first half of 2017, the global manufacturing industry was the sector most susceptible to cyber-attacks – with the industrial control systems (ICSs) and manufacturing industry computers accounting for almost one third of all attacks, according to the cyber-security firm, Kaspersky Lab.
ABB’s $2.6bn GE deal will make it global switchgear leader
ABB’s recently announced acquisition of GE Industrial Solutions will allow it to leapfrog ahead of Siemens to become leader of the global switchgear market, according to a research note issued by IHS Markit. The market analyst estimates that ABB was previously behind Siemens and slightly ahead of Eaton in its share of this market, and that the GE acquisition will move it marginally ahead of Siemens.
ABB buys GE Industrial Solutions for $2.6bn
ABB is buying GE Industrial Solutions, GE’s electrical systems business, for $2.6bn, securing its second position in the $32bn global market, behind Schneider Electric, and ahead of Eaton and Siemens. It also expands ABB’s access to the North American market via GE’s large installed base and extensive distribution networks.
Omron sets up two robot production lines in the Netherlands
Omron has installed two new lines to produce parallel robots at its European manufacturing site in Den Bosch, the Netherlands. The aim is to cut lead times, accelerate responses and improve productivity for robots delivered to customers in Europe.
Brammer and IPH unite to create a €2.2bn MRO giant
The European industrial equipment distributors Brammer and IPH have joined forces to form a single business, called IPH-Brammer, with close to €2.2bn in revenues and more than 8,000 employees in 23 European countries. The MRO (maintenance, repairs and operations) business will be headquartered in London, with Pierre Pouletty, former CEO of IPH serving as CEO of the merged operation, and Hermann Maier, former CEO of Brammer, serving as its chief operating officer.
