Emerson To Acquire Remaining Stake In AspenTech Not Already Owned By It For $265/Shr

Emerson Electric

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Kaufen / Verkaufen

(RTTNews) - Technology and software company Emerson (EMR) and Aspen Technology, Inc. (AZPN) announced Monday that they have reached an agreement under which Emerson will acquire all outstanding shares of common stock of AspenTech not already owned by Emerson for $265.00 per share pursuant to an all-cash tender offer.

The transaction values the minority stake being acquired at $7.2 billion, and values the total company at a fully diluted market capitalization of $17.0 billion with an enterprise value of $16.8 billion.

Emerson currently owns approximately 57% of AspenTech's outstanding shares of common stock following Emerson's 55% majority investment completed in 2022. Upon the closing of the transaction, AspenTech will become a wholly owned subsidiary of Emerson.

The transaction was unanimously recommended for approval by a special committee of the AspenTech Board of Directors composed of three independent and disinterested directors.

Following the recommendation of the Special Committee, the AspenTech Board of Directors approved the transaction. The transaction has also been unanimously approved by the Emerson Board of Directors.

The transaction is expected to close in the first half of calendar year 2025, subject to the satisfaction of customary closing conditions. Emerson expects to finance the transaction from cash on hand and debt financing.

Once the transaction closes, AspenTech's common stock will cease to trade on the NASDAQ.