Emerson Declares $265 Per-Share Bid for Aspen as “Best and Final”

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Emerson Electric (EMR.N) has stated that its $265 per-share offer for Aspen Technology (AZPN.O) is its “best and final” price. This announcement comes just days after activist investor Elliott Management revealed it had invested over $1.5 billion in Aspen, challenging the company’s decision to accept Emerson’s $7.2 billion tender offer.

UBS analysts highlighted that Emerson’s break price is around $202, though the exact value is difficult to pin down. The analysts noted that this makes the bid less likely to see further increases, as it relies on the assumption that Emerson would prefer to avoid a failed tender offer.

Emerson, which already owns 57% of Aspen, agreed last month to acquire the remaining shares of the industrial software supplier. The all-cash tender offer is set to expire on March 10, provided that the minimum number of shares are tendered by that date.

FTC Appoints Former Heritage Foundation Tech Policy Expert as Chief Technology Officer

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The U.S. Federal Trade Commission (FTC) has appointed Jake Denton, a former tech policy researcher from the conservative Heritage Foundation, as its new chief technology officer. Denton, who graduated from American University in 2021, shared the news of his appointment on X on Monday. He replaces Stephanie Nguyen, who served in the role since 2022 under former FTC Chair Lina Khan.

The FTC introduced the role of chief technologist during the Obama administration to offer guidance on emerging technology policy issues, with a focus on digital markets, competition, and consumer protection. Denton’s appointment comes as Andrew Ferguson begins his tenure as the new chairman of the FTC. Ferguson has voiced concerns about the dominance of Big Tech companies but has also cautioned against over-regulating the tech industry in a way that might hinder U.S. innovation.

Denton has previously expressed his views on artificial intelligence (AI) policy, calling for Congress to pass AI legislation in a Fox News interview in July 2023. In an opinion piece co-authored with Kara Frederick, the Heritage Foundation’s tech policy director, Denton emphasized the need for the U.S. and its allies to take a leading role in setting international AI standards. They warned that if democracies don’t write the rules for emerging technologies like AI, authoritarian regimes may take the lead in shaping them.

Before joining the Heritage Foundation, Denton interned in Congress and completed a fellowship with the Federalist Society. His appointment signals the FTC’s continued focus on regulating emerging technologies like AI and digital markets, areas where the agency has launched investigations in the past under Chair Khan, particularly into AI partnerships such as Microsoft’s and OpenAI’s collaboration.

It remains to be seen whether Ferguson, along with Denton, will continue investigations into Big Tech, including ongoing probes into Microsoft and OpenAI’s potentially anticompetitive conduct and whether OpenAI violated consumer protection laws. The FTC is also preparing for a high-profile trial in April over Meta Platforms’ acquisitions of Instagram and WhatsApp, and continues to pursue legal action against Amazon over alleged anti-competitive practices.

Europe’s Privacy Watchdogs to Discuss DeepSeek Amid Data Privacy Concerns

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European Union data protection authorities are set to discuss concerns surrounding the Chinese artificial intelligence startup DeepSeek during their monthly meeting on Tuesday, according to the meeting agenda. The discussions arise amid growing scrutiny of how DeepSeek handles personal data, especially regarding European users.

DeepSeek made waves globally last month by showcasing its ability to compete with major U.S. tech firms in human-like reasoning technology, while offering services at a significantly lower cost. However, concerns have been raised by several European privacy regulators about whether the company is using personal data from European citizens to train its AI models and if such data could be transferred to China.

The European Data Protection Board (EDPB), based in Brussels, has scheduled a session to address DeepSeek’s activities. During the meeting, national data protection authorities will share information on the actions they’ve taken in response to DeepSeek’s operations. Marie-Laure Denis, president of the French privacy watchdog CNIL, emphasized that the goal of the meeting is to harmonize responses and share insights on how to address privacy risks posed by the company.

The CNIL confirmed that it had reached out to DeepSeek for clarification on how the company’s AI system operates and whether there are any potential privacy risks for users. Ireland’s data protection authority has also sought further information from the Chinese startup. Meanwhile, Italy’s data watchdog has taken more drastic action, ordering DeepSeek to block its chatbot in the country due to non-compliance with privacy concerns over its policy.

Europe has been known for its strong stance on data privacy, with its General Data Protection Regulation (GDPR) considered one of the strictest data protection laws in the world. The scrutiny of DeepSeek highlights the region’s commitment to safeguarding user privacy amid the rapid growth of AI technologies.