D.E. Shaw pushes for break up of Emerson Electric [Reuters (UK)]
Emerson Electric Company (EMR)
Last emerson electric company earnings: 4/21 06:55 am
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Source: Reuters
D.E. Shaw pushes for break up of Emerson Electric - Reuters 2 Min Read Oct 15 (Reuters) - Hedge fund D.E. Shaw on Tuesday called for Emerson Electric Co to split itself into two separate businesses, arguing that the move could unlock more than $20 billion worth of shareholder value. The hedge fund, which holds a more than 1% stake in Emerson, said the industrial conglomerate’s stock was undervalued and it should split into a pure play industrial automation business and a climate technology-focused firm, in a letter to the company’s board. “The set of steps we have proposed could result in more than 50% appreciation in Emerson’s stock price,” D.E. Shaw said in the letter. The hedge fund also said Emerson has the potential to reduce its costs by $1 billion annually and needs to align its executive compensation with shareholder returns. “We will carefully evaluate D.E. Shaw’s proposals as we continue to assess value-creation opportunities,” Emerson said in response to the letter. The hed
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EMR
Earnings
- 2/7/24 - Beat
EMR
Sec Filings
- 3/21/24 - Form 11-K
- 3/21/24 - Form 11-K
- 3/5/24 - Form 4
- EMR's page on the SEC website