Emerson says $265 per-share bid for Aspen is 'best and final'

Emerson Electric Co

10/02/2025 18:47

Feb 10 (Reuters) - Emerson Electric  EMR.N  said on Monday that its $265 per-share offer
to acquire Aspen Technology  AZPN.O  was its "best and final" price.
    The announcement comes days after activist investor Elliott Management said it invested over
$1.5 billion in Aspen, opposing the company's decision to accept Emerson's $7.2 billion tender
offer.
    "Our break price is ~$202 (though there is above-average difficulty in pinning it down),
making it less obvious as a bump play and resting it on a view that Emerson would not want to
risk tender failure," UBS analysts said in a note.
    Emerson, which owns 57% of Aspen, agreed last month to acquire the remaining shares in the
industrial software supplier.    
    The all-cash tender offer is set to expire on March 10, assuming the minimum required number
of shares are tendered.    

 (Reporting by Nathan Gomes in Bengaluru; Editing by Alan Barona)
 ((Nathan.Gomes@thomsonreuters.com))