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.
