Emerson Proposes Acquiring All Remaining Outstanding AspenTech Shares for $240 Each-February 2024-www.financetom.com

Emerson Proposes Acquiring All Remaining Outstanding AspenTech Shares for $240 Each

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Emerson Proposes Acquiring All Remaining Outstanding AspenTech Shares for $240 Each

Nov 5, 2024 7:13 AM

07:50 AM EST, 11/05/2024 (MT Newswires) -- Emerson Electric ( EMR ) said Tuesday it has proposed acquiring all outstanding shares of AspenTech (AZPN) it does not already own for $240 each in cash.

Upon deal completion, AspenTech would become a wholly owned subsidiary of Emerson, which currently owns roughly 57% of AspenTech's outstanding shares, Emerson said.

Emerson also said it has started a process to explore strategic alternatives, including a cash sale, for its Safety and Productivity segment, which includes the remaining businesses unrelated to automation in its portfolio.

Additionally, the company said it plans to buy back about $2 billion of its common shares in fiscal 2025, with about $1 billion of the repurchase anticipated to be completed in fiscal Q1.

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