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Investing.com -- Emerson (NYSE:EMR) Electric confirmed on Monday its "best and final" offer of $265 per share to acquire Aspen Technology (NASDAQ:AZPN). This confirmation comes after activist investor Elliott Management expressed opposition to Aspen’s decision to accept Emerson’s $7.2 billion tender offer, having recently invested over $1.5 billion in Aspen.
Emerson, which already holds a 57% stake in Aspen, agreed last month to purchase the remaining shares in the industrial software supplier. The all-cash tender offer is set to expire on March 10, provided the minimum required number of shares are tendered.
Emerson (NYSE: EMR) responded on Monday to the public statement released by Elliott Investment Management L.P. on February 7, 2025, regarding the tender offer under which Emerson will acquire all outstanding shares of common stock of Aspen Technology, Inc. (NASDAQ: AZPN) not already owned by Emerson for $265 per share. This agreement with AspenTech was announced on January 27, 2025.
Emerson stated that the tender offer provides AspenTech minority stockholders the opportunity to tender their shares at a compelling and certain value of $265 per share in cash. This price was actively negotiated over a nearly three-month period between Emerson and the AspenTech Special Committee.
Emerson stressed that AspenTech stockholders should make their decision to tender understanding that the economic terms of the transaction will not change. There is no assurance that Emerson will extend its tender offer should the terms or conditions of the definitive agreement not be met, including the condition that a majority of the minority shares outstanding be tendered in order for the transaction to be consummated. If the tender offer expires without the majority of the minority condition being met, Emerson has no interest in a disposition or sale of its holdings and will maintain its majority ownership stake in AspenTech, which will remain a publicly-traded controlled company.
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