Jan 27 (Reuters) - Emerson Electric ( EMR ) agreed to

buy the remaining shares in AspenTech that it does not

already own in a deal that values the stake at $7.2 billion, the

companies said on Monday.

The deal allows Emerson, which currently owns a near 57%

stake in AspenTech, to strengthen its focus in the industrial

automation segment.

Emerson has offered to buy the remaining stake at $265 per

share in an all-cash tender offer, valuing AspenTech at $16.8

billion.

The per share figure is at a premium of 10.4% from its prior

offer of $240 per share made in November.

Following the closing of the deal, expected in the first

half of 2025, Aspen would operate as a wholly owned unit of

Emerson.

Emerson will look to finance the stake purchase with its

existing cash on hand and debt financing.

Goldman Sachs and Centerview Partners are financial

advisors to Emerson, while Qatalyst Partners and Citi are

serving as independent financial advisors to AspenTech.

Emerson took control of 55% of Aspen in 2021 after merging

its software units with the smaller rival.

Emerson, founded a century ago, has streamlined its

portfolio over the past few years to focus on technology as

companies modernize their factory floors to include more

automation.

Aspen's shares were up 3% at $262.9 in premarket trade.