Emerson Acquires Chloride Shares Through Open
Market Purchases
July 02, 2010 12:52 PM Eastern Daylight Time
ST. LOUIS--(EON: Enhanced Online News)--Emerson Electric Co. (“Emerson”) announced today that it has
acquired, through open market purchases, 49,998,079 shares of Chloride Group PLC (“Chloride”), representing
approximately 19% of the issued share capital of Chloride, at a price of 378.3 pence per share. The Chloride shares
were purchased by Rutherfurd Acquisitions Limited (“Rutherfurd”), a wholly-owned subsidiary of Emerson, on
July 2, 2010. As a result of this acquisition, Rutherfurd owns a total of 49,998,079 shares of Chloride representing
approximately 19% of the issued share capital of Chloride. Detailed disclosure with respect to these purchases can
be found at http://centralcast.net/EmersonOffer.
On June 29, 2010, Emerson announced a cash offer for the entire issued and to be issued share capital of Chloride
(the “Offer”). Emerson and Chloride announced today that the board of directors of Chloride has resolved that it
intends unanimously to recommend acceptance of the Offer. Under the terms set out by Emerson in the
announcement of the Offer (the “Offer Announcement”), Chloride shareholders will receive 375 pence in cash for
each Chloride share. Chloride shareholders will also be entitled to receive the final dividend of 3.3 pence per share
as proposed by the board of directors of Chloride on May 24, 2010. Emerson may, with the agreement of the
board of directors and the Panel on Takeovers and Mergers, elect to implement the acquisition by way of a court-
sanctioned scheme of arrangement under Part 26 of the UK Companies Act 2006. Any such scheme would be
subject to terms no less favorable to Chloride shareholders, as applicable, than those which were set out in the Offer
Announcement. The Offer Announcement, as well as other information relating to the Offer, is available at
http://centralcast.net/EmersonOffer.
This announcement is not intended to, and does not, consti