Elliott Investment Management L.P. has expressed opposition to Aspen Technology, Inc.'s recent agreement with Emerson Electric Co., criticizing it as opportunistic and claiming it significantly underestimates the company's value.
As a minority shareholder, Elliott has publicly disagreed with AspenTech's decision to endorse a $265.00 per share tender offer made by its majority shareholder, Emerson. Elliott has stated that it has "no intention of tendering its shares at the current price."
Elliott Investment manages assets exceeding $1.5 billion within Aspen Technology, which is recognized as a leader in global asset management software.
In pre-market trading, Aspen Technology's shares have seen an increase of 4.33%, reaching $277.05 on the Nasdaq. Meanwhile, Emerson Electric's shares are up by 1.83%, trading at $129.81 on the New York Stock Exchange.
