Aspen Technology Stock Hits Record High as Emerson Electric Announces $7.2 Billion Buyout
Key Highlights
The all-cash transaction values AspenTech at $265 per share, representing a nearly 4% premium to its previous closing price. Emerson currently owns 57% of AspenTech’s outstanding shares, and the completion of the deal will make AspenTech a wholly owned subsidiary of the industrial technology giant.
Lal Karsanbhai, Emerson’s CEO, described the acquisition as a pivotal step in the company’s strategy, stating it would “advance our vision for software-defined control” and further strengthen Emerson’s portfolio transformation.
The transaction is expected to finalize in the first half of the year, after which AspenTech shares will no longer trade on the Nasdaq.
On Monday, AspenTech’s stock jumped over 3%, reaching a record $263.64, and has gained roughly 30% over the past year. Conversely, shares of Emerson Electric dipped 1.5% following the news, though they remain 35% higher year-over-year.
Key Highlights
- Emerson Electric plans to acquire the remaining Aspen Technology shares it doesn’t own for $7.2 billion in cash.
- The company will pay $265 per share, a 3.9% premium over AspenTech’s Friday closing price.
- The announcement drove AspenTech shares to an all-time high.
The all-cash transaction values AspenTech at $265 per share, representing a nearly 4% premium to its previous closing price. Emerson currently owns 57% of AspenTech’s outstanding shares, and the completion of the deal will make AspenTech a wholly owned subsidiary of the industrial technology giant.
Lal Karsanbhai, Emerson’s CEO, described the acquisition as a pivotal step in the company’s strategy, stating it would “advance our vision for software-defined control” and further strengthen Emerson’s portfolio transformation.
The transaction is expected to finalize in the first half of the year, after which AspenTech shares will no longer trade on the Nasdaq.
On Monday, AspenTech’s stock jumped over 3%, reaching a record $263.64, and has gained roughly 30% over the past year. Conversely, shares of Emerson Electric dipped 1.5% following the news, though they remain 35% higher year-over-year.