Emerson Electric Co. didn't mention its recent failed take-over attempt of Rockwell Automation Inc. in its latest quarterly report, but the company still has its eyes on acquisitions over the next year.
The company on Tuesday said it expects up to half of sales growth for next year to come from acquisitions. The St. Louis industrial conglomerate forecast sales growth of 8% to 10% in its 2018 fiscal year, with 4% coming from acquisitions.
Last month Rockwell said it rejected a sweetened offer from Emerson valued at $27.5 billion, or $215 a share. Rockwell, which generated $5.89 billion in revenue in 2016 compared with Emerson's $14.52 billion, said it was confident in its strategic direction and ability to continue delivering growth.
Emerson previewed its results last month and on Tuesday confirmed its fourth-quarter earnings of 83 cents a share on an adjusted basis and revenue of $4.44 billion. Shares, up 16% so far this year, were inactive during premarket trading.
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(END) Dow Jones Newswires
November 07, 2017 08:36 ET (13:36 GMT)