Hedge fund D.E. Shaw raises pressure on Emerson, calls for breakup [Reuters]
Emerson Electric Company (EMR)
Last emerson electric company earnings: 4/21 06:55 am
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Source: Reuters
Hedge fund D.E. Shaw raises pressure on Emerson, calls for breakup (Reuters) - Hedge fund D.E. Shaw on Tuesday increased the pressure on Emerson Electric Co ( EMR.N The New York-based hedge fund, which owns a more than 1% stake in the Ferguson, Missouri-based company, wants it to split into a pure play industrial automation business and a climate technology-focused firm, D.E. Shaw wrote to the board. It also wants the company, which keeps a fleet of eight corporate jets and a helicopter, to cut costs and update its governance structure under which its directors are elected to three-year terms while the industry standard is for one-year terms. The hedge fund expressed concern that only one Emerson director out of 10 has bought stock with his own money in the last years, which could suggest that board members are not appropriately invested in the company’s performance, a person familiar with D.E. Shaw’s thinking said. The hedge fund also wants Emerson to change how it pays management. “
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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