US-based Emerson Electric Co. has countered ABBÔÇÖs recent offer to buy the UKÔÇÖs Chloride Group with its own offer of ┬ú997 million (approximately $1.5 billion). The offer, at 375 pence a share, is 15 percent higher than Switzerland-based ABBÔÇÖs 325 pence a share bid, which was announced on June 8 and accepted by Chloride. Emerson took its offer directly to shareholders after management at Chloride reportedly spurned prior approaches. Emerson has outlined annual operating cost savings of at least ┬ú33 million (approx.








Zimplats_MAY10_emea_BROCH-s.pdf
