EMERSON RETRACTS $29B BID FOR ROCKWELL

Emerson Electric is withdrawing its $29 billion unsolicited takeover attempt for Rockwell Automation. St. Louis-based Emerson had made three offers, with the latest at $225 per share. But Milwaukee-headquartered Rockwell rejected it, saying a combined company faced long-term risks and that Emerson undervalued Rockwell and its growth prospects.