Emerson Elec Co - EMR STOCK NEWS

Merck (MRK) announced that Surendralal L. 'Lal' Karsanbhai, president and CEO of Emerson Electric Co., will join its board of directors effective January 1, 2025. Karsanbhai will stand for election by shareholders in May 2025, bringing the total board membership to 13. With a career at Emerson since 1995, Karsanbhai became its CEO in 2021. He currently serves as deputy chair of the Federal Reserve Bank of St. Louis and on the US-China Business Council board.

Aspen Technology (NASDAQ:AZPN) has formed a special committee of three independent directors to evaluate a non-binding acquisition proposal from Emerson Electric Co. (NYSE:EMR). The proposal was received on November 5, 2024. Emerson and its affiliates currently own 57.4% of AspenTech's outstanding common shares.

The Special Committee includes Board Chair Robert Whelan, Jr. (Committee Chair), Arlen Shenkman, and David Henshall. Qatalyst Partners and Citi are serving as financial advisors, while Skadden, Arps, Slate, Meagher & Flom LLP provides legal counsel. No immediate action is required from shareholders.

Emerson (NYSE: EMR) has made a strategic investment through Emerson Ventures in EECOMOBILITY, a startup specializing in advanced battery testing and monitoring software for EV, energy storage, and industrial markets. EECOMOBILITY's AI software focuses on rapid battery testing and defect identification that could lead to fires or performance issues.

The investment aligns with Emerson's recent NI acquisition and strengthens its position in test and measurement technologies. EECOMOBILITY's platform-agnostic software supports standalone applications and customer solution integration, featuring self-learning technology for high-speed, accurate results. Emerson Ventures will co-invest alongside Automotive Ventures, RISC Capital, and a North American OEM.

Emerson (NYSE: EMR), a leader in industrial technology and automation solutions, will participate in COP29 in Baku, Azerbaijan. The company will showcase its innovations in energy management, emissions reduction, and decarbonization at the Climate Action's Sustainable Innovation Forum and the Hydrogen Transition Summit. Chief Sustainability Officer Mike Train will discuss the role of automation technologies in accelerating the energy transition. Emerson collaborates with both established companies and start-ups to advance sustainability goals. The company's focus areas include energy source decarbonization, emissions management, electrification, and circularity. Emerson achieved a 52% reduction in Scope 1 and 2 greenhouse gas emissions intensity since 2021 and sources 49% of its electricity from renewables, aiming for 100% by 2030. Attendees can visit Emerson at Stand 102 in the Climate Action Innovation Zone at the Baku Marriott Hotel Boulevard.

Aspen Technology (NASDAQ:AZPN) has received an unsolicited, non-binding acquisition proposal from Emerson Electric Co. (NYSE:EMR) to purchase all remaining outstanding shares not already owned by Emerson for $240.00 per share in cash. Emerson currently owns 57.4% of AspenTech's outstanding common shares. The proposal was submitted on November 5, 2024. AspenTech's Board of Directors will review the proposal following appropriate governance processes, and shareholders are advised to take no action at this time.

Emerson (NYSE: EMR) announced three key strategic actions: proposing to acquire remaining AspenTech shares at $240 per share in cash, exploring strategic alternatives for its Safety & Productivity segment, and planning to repurchase $2.0 billion of shares in fiscal 2025. The AspenTech proposal represents a 35% premium to the undisturbed share price and values AspenTech at $15.3 billion market cap. The Safety & Productivity segment, which contributed $1.4 billion in sales with 24.5% margins in fiscal 2024, is being considered for potential sale. Emerson plans to complete $1.0 billion of share repurchases by Q1 fiscal 2025.

Emerson (NYSE: EMR) reported strong fiscal 2024 results with net sales increasing 15% to $17.492 billion. The company achieved underlying sales growth of 6% and improved adjusted segment EBITA margin by 100 basis points to 26.0%. Adjusted earnings per share grew 24% to $5.49, while free cash flow increased 23% to $2.898 billion. For fiscal 2025, Emerson projects net sales growth of 3.5-5.5% and adjusted EPS of $5.85-$6.05. The company also announced a quarterly dividend increase to $0.5275 per share.

Emerson (NYSE: EMR), a global automation and software leader, has been chosen by HyIS-one to provide advanced technologies for Korea's largest hydrogen refueling station for commercial vehicles in Busan. The station will have a capacity of 350 kilograms per hour, capable of charging over 200 commercial vehicles daily and storing up to 1.5 tons of pressurized hydrogen. It will be the first large-capacity station in Korea to unload tube trailers without docking.

Emerson will supply pressure and temperature transmitters, ultrasonic gas leak detectors, pressure regulators, and safety valves to ensure safety and reliability. HyIS-one reports a 50% improvement in refueling speed compared to other stations. By 2026, HyIS-one plans to establish up to 30 large hydrogen refueling stations across Korea and secure its own tube trailers for a commercial vehicle hydrogen refueling system.

Emerson (NYSE: EMR) has announced its schedule for reporting fourth quarter and full year 2024 financial results. The company will release its earnings report before the market opens on Tuesday, November 5, 2024. Following the release, Emerson's senior management will host an investor conference call at 8 a.m. Eastern Time (7 a.m. Central Time) to discuss the results.

Interested parties can access the live conference call and view presentation slides by visiting the Investors section of Emerson's website at www.Emerson.com/investors. A brief registration is required to participate. For those unable to attend the live event, a replay of the conference call will be available for three months following the webcast on the same website.