Rockwell Automation Inc., a leading industrial automation and information provider, said Tuesday its board of directors rejected an unsolicited takeover bid from rival Emerson. The bid, valued at more than $27 billion, undervalued the company, Milwaukee-based Rockwell Automation said.

It was the second time Emerson, the Ferguson-based multinational with deep roots in St. Louis, had approached Rockwell Automation.

On Aug. 2, Emerson offered $200 a share, with half in cash and half in Emerson common stock. After that offer was rejected, Emerson on Oct. 10 raised its cash and stock offer to $215 per share, Rockwell Automation said.

The latest Emerson bid was first reported early Tuesday by CNBC.

In a statement, Rockwell Automation President and CEO Blake Moret said the company’s board and management “are confident in the company’s strategic direction and our ability to continue delivering superior levels of growth and value creation.”

Rockwell Automation’s shares rose as much as 12.7 percent before paring gains to 7.8 percent and closing Tuesday at $200.82. Emerson’s shares fell 4.3 percent, closing at $64.46.