Emerson receives "mini-tender" offer from Baker Mills to buy 50,000 shares
Emerson has received notification of an unsolicited "mini-tender" offer by Baker Mills, a Delaware limited liability company, to purchase 50,000 shares, or approximately .008%, of the outstanding common stock of Emerson at $61 per share. Baker Mills' price is approximately 20.5% below Emerson's NYSE closing price on August 31, the last trading day prior to the offer. Emerson is not associated with this offer and does not endorse the offer. Emerson recommends against shareowners tendering their shares in response to Baker Mills' unsolicited mini-tender offer because the offer price is below the current market price for Emerson shares and is subject to numerous conditions. Emerson understands that Baker Mills has made numerous unsolicited mini-tender offers in the past for stock of other companies at a discount to the market price. Mini-tender offers, such as this one by Baker Mills, are offers to acquire less than 5% of a company's outstanding shares and therefore avoid many of the investor protections of the Federal Securities laws and rules of the SEC.