AZPN

Acquisition Completion: Emerson has completed the acquisition of all outstanding shares of Aspen Technology, making it a wholly owned subsidiary, with Antonio Pietri retiring as CEO and Vincent Servello appointed as President.

Stock Trading Status: AspenTech's shares have ceased trading on NASDAQ, and its financial results will now be included in Emerson's Control Systems & Software segment.

Tender Offer Extension: Emerson has extended its tender offer to acquire all outstanding shares of Aspen Technology, Inc. until 5:00 p.m. Eastern Time on March 11, 2025, to facilitate the settlement and tendering of shares due to an S&P MidCap 400 index change.

Current Status: As of March 7, 2025, approximately 6,715,211 shares had been validly tendered, with Emerson offering $265 per share for those not already owned by them, and no action is required from holders who have already tendered their shares.

S&P MidCap 400 Update: Albertsons Companies (ACI) will replace Aspen Technology (AZPN) in the S&P MidCap 400 on March 11, as Emerson Electric Co. (EMR) is acquiring Aspen Technology, pending final closing conditions.

Investment Insights: TipRanks offers tools to discover top-rated stocks and investment opportunities, including a Stock Screener for filtering and analyzing stocks with Strong Buy ratings from analysts.

S&P MidCap 400 Update: Albertsons Companies Inc. will replace Aspen Technology Inc. in the S&P MidCap 400 effective March 11, as part of a corporate acquisition by Emerson Electric Co.

Acquisition Details: Emerson Electric is acquiring Aspen Technology, with the deal expected to finalize soon, pending closing conditions.

Investigation of Companies: Halper Sadeh LLC is investigating Jet.AI Inc., Global Blue Group Holding AG, and Aspen Technology, Inc. for potential violations of federal securities laws and fiduciary duties to shareholders related to their respective business sales.

Legal Support for Shareholders: The law firm offers free consultations to affected shareholders and may seek increased compensation or additional disclosures on their behalf, operating on a contingent fee basis.

Investigation of Companies: Halper Sadeh LLC is investigating Intevac, Aspen Technology, and Paragon 28 for potential violations of federal securities laws related to their sales to other companies at specified cash prices per share.

Legal Support for Shareholders: The law firm offers free consultations to shareholders regarding their rights and options, potentially seeking increased compensation or additional disclosures on behalf of the shareholders involved in these transactions.

Investigation of Acquisition: Kessler Topaz Meltzer & Check, LLP is investigating potential claims from Aspen Technology, Inc. shareholders regarding the fairness of the acquisition agreement with Emerson Electric Co., focusing on whether shareholders are receiving adequate compensation.

Legal Representation: The law firm specializes in class actions related to securities fraud and breaches of fiduciary duties, advocating for corporate governance reform and representing investors, consumers, and whistleblowers.

Investigation of Companies: Halper Sadeh LLC is investigating potential violations of federal securities laws and fiduciary duties related to the sales of several companies, including Enfusion, Aspen Technology, H&E Equipment Services, and NeueHealth, urging shareholders to understand their rights and options.

Legal Representation Offer: The law firm offers to represent affected shareholders on a contingent fee basis, meaning no upfront legal fees are required, and encourages them to contact the firm for free consultations regarding their legal rights.

Elliott Investment Management's Stake: Elliott Investment Management has acquired a stake exceeding $2.5 billion in Phillips 66, following its recent investment in BP, and is known for its activist campaigns aimed at improving company performance.

Activist Campaigns Overview: The firm has successfully influenced several companies, including Honeywell's restructuring into three entities and Southwest Airlines' board changes, while also pushing for governance improvements in Starbucks and opposing acquisitions in Aspen Technology.

Emerson's Acquisition Offer: Emerson Electric has confirmed its final offer of $265 per share to acquire the remaining shares of Aspen Technology, following opposition from activist investor Elliott Management. The all-cash tender offer is set to expire on March 10, contingent upon a majority of minority shares being tendered.

Implications for AspenTech Shareholders: Emerson emphasized that the tender offer presents a compelling value for AspenTech's minority stockholders and that the terms of the transaction will not change. If the required conditions are not met, Emerson intends to retain its majority stake in AspenTech, which will continue as a publicly traded company.

Emerson's Acquisition Offer: Emerson Electric has declared its $265 per-share offer to acquire Aspen Technology as its "best and final" price, amidst opposition from activist investor Elliott Management, which has invested over $1.5 billion in Aspen.

Tender Offer Details: Emerson, which already owns 57% of Aspen, plans to complete the all-cash tender offer by March 10, contingent on the minimum number of shares being tendered.

Research Calls Overview: The article highlights significant stock upgrades and downgrades on Wall Street, including notable upgrades for Shopify, Aspen Technology, and Johnson Controls, while Amazon, Skyworks, and Merck faced downgrades due to valuation concerns and market challenges.

New Stock Initiations: Several companies received new coverage ratings, with Capri Holdings and Flowco being initiated with Neutral and Outperform ratings respectively, while Repligen and Lifeward were given Buy ratings, indicating positive growth potential in their respective markets.

Aspen Technology's Stock Outlook: Loop Capital has upgraded Aspen Technology (AZPN) to a buy rating, anticipating that activist investor Elliott Investment Management will persuade shareholders that the company's value exceeds Emerson's current offer of $265 per share.

Potential Risks and Price Target: While there is potential for an increased bid, analysts warn of significant downside risk if Emerson withdraws its offer, with shares possibly dropping to around $202. Loop Capital has raised its price target for Aspen Tech to $315.

Emerson Electric's Tender Offer: Emerson Electric has stated that its $265 per share tender offer for Aspen Technology is its "best and final" price, following criticism from Elliott Investment Management, which owns a significant stake in Emerson and believes the bid is too low.

Potential Share Price Impact: If the offer is rejected, Aspen Technology's share price could drop significantly, with estimates suggesting it may fall to around $202 per share.

Investigation of Companies: Halper Sadeh LLC is investigating potential securities law violations and breaches of fiduciary duties related to the sales and mergers of Altus Power, Portman Ridge Finance Corporation, and Aspen Technology, Inc.

Legal Support for Shareholders: The firm offers free consultations to shareholders regarding their rights and options, aiming to seek increased compensation or additional disclosures on behalf of affected investors.

Emerson Electric's Tender Offer: Emerson Electric has stated that its $265 per share tender offer for Aspen Technology is its "best and final" price, following criticism from Elliott Investment Management, which believes the bid is too low.

Elliott's Stake and Response: Elliott disclosed a stake of over $1.5 billion in Emerson and indicated it would not tender its shares for the Emerson offer, emphasizing the expertise of AspenTech's Special Committee in evaluating the company's outlook.

Emerson's Tender Offer: Emerson has announced a tender offer to acquire all outstanding shares of Aspen Technology for $265 per share, which is deemed its best and final price after negotiations with AspenTech's Special Committee.

Recommendation from AspenTech: The AspenTech Special Committee, advised by independent financial and legal experts, unanimously recommends the transaction as superior to AspenTech's standalone prospects, urging minority stockholders to tender their shares before the March 10, 2025 deadline.

Mergers and Acquisitions Activity: Several companies, including Conduent and Paysafe, have seen significant stock price increases due to reports of potential sales or takeover interests, while Bank of America is acquiring a $9B mortgage portfolio from Toronto-Dominion Bank.

Corporate Developments: Aspen Technology's stock rose after Elliott Investment Management expressed opposition to Emerson Electric's takeover bid, and Grab Holdings is considering a takeover of GoTo Group valued at over $7 billion.

Elliott Management's Investment: Activist investor Elliott Management has invested over $1.5 billion in Aspen Technology, opposing Emerson Electric's $7.2 billion tender offer, claiming it undervalues the company at $265 per share.

Market Reaction and Emerson's Position: Following the news, Aspen's shares increased by 3% while Emerson's shares fell by 2%. Emerson maintains confidence in its acquisition strategy, having already secured a 57% stake in Aspen.

Elliott Investment Management's Position: Elliott, the largest minority investor in Aspen Technology, opposes Emerson Electric's $265 per share tender offer, claiming it undervalues the company and stating they will not tender their shares at this price.

About Elliott Investment Management: Founded in 1977, Elliott manages approximately $69.7 billion in assets, with a diverse range of investors including pension plans and high net worth individuals.