UPDATE 1-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
UPDATE 1-Hedge fund D.E. Shaw raises pressure on Emerson, calls for breakup (Adds background and details to D.E. Shaw’s plan) By Svea Herbst-Bayliss Oct 15 (Reuters) - Hedge fund D.E. Shaw on Tuesday increased the pressure on Emerson Electric Co by publicly urging a breakup of the U.S. industrial conglomerate, a move it says could unlock more than $20 billion worth of shareholder value. 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 y
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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