YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Hedge fund Elliott Investment Management LP is opposing Clayton-based Emerson Electric's planned purchase of Aspen Technology, aka AspenTech.
Emerson Electric previously inked a deal worth $265 per share for the shares of Bedford, Massachusetts-based AspenTech that it doesn't already own.
"Emerson's offer is highly opportunistic and substantially undervalues the company. Elliott has no intention of tendering its shares at the current price," Elliott Investment Management officials said.
Emerson Electric said the offer is its "best and final price."
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