Companies

Aspen Technology Receives Unsolicited Acquisition Proposal from Emerson

Published November 6, 2024

Shareholders Advised to Take No Action (WA:) Pending Review

BEDFORD, Mass.--(BUSINESS WIRE)--Aspen Technology, Inc. (NASDAQ:AZPN), a leading company in the industrial software sector, has disclosed that its Board of Directors has received an unsolicited non-binding proposal from Emerson Electric Co. (NYSE:NYSE:) to acquire all outstanding shares of Aspen Technology not already owned by Emerson. The proposed acquisition offers $240.00 for each share.

According to Emerson's most recent filing, they currently own 57.4% of Aspen's common shares as of November 5, 2024. This significant ownership indicates Emerson's strong interest in fully acquiring the company.

Aspen Technology's Board plans to engage in a thorough governance process to evaluate the offer. It is important for shareholders of AspenTech to note that no action is required from them at this stage regarding the proposal.

About Aspen Technology

Aspen Technology, Inc. (NASDAQ: AZPN) specializes in providing software solutions that help industries tackle the global challenges of resource demands. The company focuses on optimizing the lifecycle of asset design, operations, and maintenance, particularly in asset-intensive sectors. AspenTech's innovative approaches aim to help clients enhance their operational efficiency while promoting greener practices.

Additional Information Regarding the Proposal

It is crucial to highlight that no formal tender offer has been initiated at this time for Aspen's shares. The communication concerning the unsolicited proposal is primarily informational and does not constitute an offer to purchase or a solicitation for shares. Should Emerson pursue a tender offer, they will be obligated to file the appropriate documents with the U.S. Securities and Exchange Commission (SEC).

Aspen Technology shareholders are encouraged to stay informed and review any future materials related to the proposal as they will contain vital information to consider when making any decisions regarding their shares. These documents will be freely accessible through the SEC's website and Aspen's own investor relations page.

Forward-Looking Statements

This announcement includes forward-looking statements about the proposed acquisition and associated risks, suggesting possibility for changes that may differ from what is anticipated. Potential risks include timing uncertainties related to the tender offer, the possibility of other offers appearing, and how the acquisition might affect relationships with employees and clients.

Therefore, stakeholders are advised to carefully review forward-looking statements and the associated risks to avoid making decisions based on incomplete information. Aspen Technology will keep investors updated as the situation progresses.

Investor Contact
William Dyke
Aspen Technology
+1 781-221-5571
[email protected]

Acquisition, Proposal, Emerson