Emerson, a prominent player in the technology and software industry, along with Aspen Technology, Inc., has announced a significant transaction. On Monday, both companies revealed that they have reached an agreement wherein Emerson will purchase all of AspenTech's outstanding common stock shares that it doesn't already possess. This acquisition will proceed through an all-cash tender offer at a rate of $265.00 per share.
This strategic move pegs the minority shareholding being acquired at an impressive $7.2 billion. It further places AspenTech's total worth at a fully diluted market capitalization of $17.0 billion, coupled with an enterprise value of $16.8 billion.
Emerson already owns about 57% of AspenTech's common shares, having made a 55% majority investment in 2022. With the completion of this transaction, AspenTech will operate as a fully integrated subsidiary under Emerson.
The agreement has received unanimous backing from a special committee of three independent, unbiased directors from AspenTech's Board. Following their endorsement, the transaction was ratified by AspenTech’s Board of Directors. Emerson's Board has also given its unanimous consent.
The completion of this transaction is anticipated in the first half of 2025, pending the fulfillment of usual closing conditions. Emerson plans to fund this acquisition through a combination of existing cash reserves and debt financing.
Post-transaction, AspenTech will be delisted from the NASDAQ exchange, marking the end of its independent trading period.
