Elliott Statement on Aspen Technology, Inc.
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
[email protected]
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SOURCE Elliott Investment Management L.P.