Elliott Statement on Aspen Technology, Inc.

Rhea-AI Summary

Elliott Investment Management, managing funds with over $1.5 billion investment in Aspen Technology (NASDAQ: AZPN), has issued a statement criticizing Emerson Electric's tender offer for remaining AspenTech shares. Elliott strongly opposes the acquisition attempt, characterizing it as a conflicted and deeply flawed process that resembles an opportunistic minority squeeze-out.

The investment firm argues that Emerson's public statements and actions leading to the tender offer demonstrate coercive intent toward minority stockholders. Elliott has declared the transaction unfair and plans to pursue all appropriate remedies against Emerson.

Positive

• None.

Negative

• Major shareholder Elliott ($1.5B stake) opposes Emerson's tender offer
• Potential legal challenges could delay or complicate the acquisition process
• Concerns about minority shareholder rights and fair valuation in the tender offer

WEST PALM BEACH, Fla., Feb. 19, 2025 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that together have an investment of more than $1.5 billion in Aspen Technology, Inc. (NASDAQ: AZPN) (the "Company" or "AspenTech"), today issued the following statement regarding the tender offer (the "Tender Offer") by Emerson Electric Co. (NYSE: EMR) ("Emerson") for all AspenTech shares it does not currently own:

"Emerson's proposal to acquire AspenTech is clearly the result of a conflicted and deeply flawed process, bearing all the hallmarks of an opportunistic minority squeeze-out. Furthermore, Emerson's public statements and actions leading up to the commencement of the Tender Offer underscore its coercive intent toward minority stockholders.

This transaction is unfair to minority stockholders, and we intend to pursue all appropriate remedies against Emerson."

About Elliott

Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately $69.7 billion of assets as of June 30, 2024. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.

Media Contact

Alice Best
Elliott Advisors (UK) Limited
T: +44 203 009 1715
abest@elliottadvisors.co.uk 

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SOURCE Elliott Investment Management L.P.

FAQ

How much is Elliott Investment Management's stake in Aspen Technology (AZPN)?

Elliott Investment Management manages funds that have a combined investment of more than $1.5 billion in Aspen Technology (AZPN).

Why is Elliott opposing Emerson's tender offer for AZPN shares?

Elliott opposes the tender offer because they believe it results from a conflicted and flawed process, describing it as an opportunistic minority squeeze-out with coercive intent toward minority stockholders.

What actions does Elliott plan to take regarding Emerson's tender offer for AZPN?

Elliott has stated they intend to pursue all appropriate remedies against Emerson, indicating potential legal or other actions to challenge the tender offer.

What is Emerson attempting to do with their AZPN tender offer in 2025?

Emerson Electric is attempting to acquire all remaining shares of Aspen Technology (AZPN) that it does not currently own through a tender offer.