Emerson Calls $265 Apiece Offer For Aspen Tech Stock ‘Best And Final’ After Elliott Labeled Price ‘Highly Opportunistic’

Shares of Aspen Technology Inc (AZPN) traded over 2% lower in Monday’s pre-market session after Emerson Electric Co (EMR) said the $265 per share price for acquiring all outstanding shares of Aspen's common stock not already owned is its best and final price.

Emerson’s clarification comes after activist investor Elliott Investment Management said last week that it doesn’t agree with Emerson Electric's price offer and considers it highly opportunistic.

Emerson currently owns approximately 57% of Aspen Tech's outstanding shares of common stock following its 55% majority investment completed in 2022.

At the same time, Elliott's funds have invested more than $1.5 billion in Aspen Technology.

Emerson said on Monday that the price had been actively negotiated between the company and the AspenTech Special Committee for almost three months.

“The Special Committee took advice from its independent financial and legal advisors and unanimously recommends the transaction and deems it superior to AspenTech's standalone prospects,” it said.

The company asserted that the AspenTech Special Committee, with three independent directors, has significantly greater knowledge of AspenTech and its outlook than a “short-term stockholder who has acquired stock in AspenTech for the purpose of merger arbitrage.”

Emerson also stated that AspenTech stockholders should decide to tender, understanding that the economic terms of the transaction will not change, and there is no assurance that Emerson will extend its tender offer should the terms or conditions of the definitive agreement not be met.

“Should the tender offer expire without the majority of the minority condition being met, Emerson has no interest in a disposition or sale of its holdings and will maintain its majority ownership stake in and governance rights related to AspenTech, which will remain a publicly traded controlled company,” it said.

Despite the ongoing uncertainty, retail sentiment on Stocktwits continued to trend in the ‘bullish’ territory (57/100), accompanied by ‘high’ retail chatter.

AZPN shares have gained nearly 10% in 2025 and have risen over 46% over the past year.

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