Nov 5 (Reuters) - Emerson Electric ( EMR ) made a

proposal on Tuesday to acquire the stake it does not already own

in AspenTech for $240 per share in cash, doubling down

on its industrial automation push.

The proposal values AspenTech at $15.1 billion on an

enterprise basis, Emerson said.

Emerson already owns about 55% of shares in AspenTech, which

it acquired in 2022.

Shares of the company rose about 4% in premarket trade.

St. Louis, Missouri-based Emerson, founded a century ago

selling fans and electric motors, has made a string of

acquisitions and divestments over the past few years to

reposition itself as a technology-focused company.

Additionally, a shift from companies modernizing their

factory floors to include more automation has aided overall

demand for companies such as Emerson.

The industrial conglomerate said the new unit will have a

highly differentiated automation software business globally,

addressing the entire lifecycle of automating complex

operations, among other functions.

Emerson will also buy back about $2.0 billion of its common

stock in fiscal year 2025, with about $1.0 billion of the

repurchase expected to be completed in the first quarter of

fiscal year 2025.

The company also said it commenced a process to explore

strategic alternatives, including a cash sale, for its Safety &

Productivity unit, which comprises the remaining businesses not

related to its automation portfolio.

Separately, Emerson expects its annual 2025 profit per share

to be between $5.85 and $6.05, the midpoint of which is above

analysts estimates of $5.89, according to data compiled by LSEG.