Stock Market Today

Emerson Electronics (EMR) said that they have proposed a buy offer with the value of million pounds to the British electricity producer Chloride Group PLC, thus exceeding the offer of the swiss ABB Ltd, 8th of this month, Chloride ABB Board of Directors has recommended that shareholders accept the proposed 864 million pounds, 325 pence per share offer, Prior to this, the company rejected Emerson made a 255 pence per share offer.

Chloride London Stock Exchange listed shares rose by 11.6%, it indicate that the market is expected to have higher bids to come, Emerson said it expects the proposed acquisition will produce 33 million pounds annual.