Elliott Statement on Aspen Technology, Inc.
Elliott Investment Management, managing funds with over $1.5 billion investment in Aspen Technology (NASDAQ: AZPN), has publicly opposed the recently announced tender offer by Emerson Electric Co. (NYSE: EMR). Emerson, AspenTech's majority stockholder, proposed to acquire the remaining shares it doesn't own at $265.00 per share.
As AspenTech's largest minority investor, Elliott stated that Emerson's offer is highly opportunistic and substantially undervalues the company. The investment firm has declared it will not tender its shares at the current price.
Elliott Investment Management, che gestisce fondi con oltre 1,5 miliardi di dollari di investimento in Aspen Technology (NASDAQ: AZPN), si è opposta pubblicamente all'offerta di acquisto recentemente annunciata da Emerson Electric Co. (NYSE: EMR). Emerson, azionista di maggioranza di AspenTech, ha proposto di acquisire le restanti azioni che non possiede a 265,00 dollari per azione.
In qualità di maggiore investitore di minoranza di AspenTech, Elliott ha dichiarato che l'offerta di Emerson è estremamente opportunistica e sottovaluta significativamente la società. La società di investimento ha dichiarato che non tenderà le sue azioni al prezzo attuale.
Elliott Investment Management, que gestiona fondos con más de 1.5 mil millones de dólares en inversión en Aspen Technology (NASDAQ: AZPN), se ha opuesto públicamente a la oferta de compra recientemente anunciada por Emerson Electric Co. (NYSE: EMR). Emerson, accionista mayoritario de AspenTech, propuso adquirir las acciones restantes que no posee a un precio de 265.00 dólares por acción.
Como el mayor inversor minoritario de AspenTech, Elliott declaró que la oferta de Emerson es altamente oportunista y subvalora sustancialmente a la empresa. La firma de inversión ha declarado que no tenderá sus acciones al precio actual.
엘리엇 인베스트먼트 매니지먼트는 애스펜 테크놀로지(NASDAQ: AZPN)에 15억 달러 이상 투자하는 자금을 관리하며, 엠슨 일렉트릭 컴퍼니 (NYSE: EMR)의 최근 발표된 공개 매수 제안에 공개적으로 반대했습니다. 애스펜테크의 주요 주주인 엠슨은 자신이 소유하지 않은 남은 주식을 주당 265.00 달러에 인수하겠다고 제안했습니다.
애스펜테크의 가장 큰 소수 투자자인 엘리엇은 엠슨의 제안이 매우 기회주의적이며 회사를 상당히 저평가한다고 밝혔습니다. 이 투자 회사는 현재 가격에 자신의 주식을 매도하지 않겠다고 선언했습니다.
Elliott Investment Management, qui gère des fonds avec plus de 1,5 milliard de dollars d'investissement dans Aspen Technology (NASDAQ: AZPN), s'est publiquement opposé à l'offre d'achat récemment annoncée par Emerson Electric Co. (NYSE: EMR). Emerson, l'actionnaire majoritaire d'AspenTech, a proposé d'acquérir les actions restantes qu'il ne possède pas à un prix de 265,00 dollars par action.
En tant que plus grand investisseur minoritaire d'AspenTech, Elliott a déclaré que l'offre d'Emerson est très opportuniste et sous-évalue considérablement l'entreprise. La société d'investissement a déclaré qu'elle ne proposera pas ses actions au prix actuel.
Elliott Investment Management, das Fonds mit über 1,5 Milliarden Dollar Investitionen in Aspen Technology (NASDAQ: AZPN) verwaltet, hat sich öffentlich gegen das kürzlich angekündigte Übernahmeangebot von Emerson Electric Co. (NYSE: EMR) ausgesprochen. Emerson, Mehrheitsaktionär von AspenTech, hat vorgeschlagen, die verbleibenden Aktien, die es nicht besitzt, zu einem Preis von 265,00 Dollar pro Aktie zu übernehmen.
Als größter Minderheitsinvestor von AspenTech erklärte Elliott, dass das Angebot von Emerson sehr opportunistisch und erheblich unterbewertet ist. Die Investmentgesellschaft erklärte, dass sie ihre Aktien zum aktuellen Preis nicht anbieten wird.
- None.
- Major shareholder Elliott ($1.5B stake) opposes Emerson's buyout offer
- Potential undervaluation of company at $265.00 per share tender offer price
- Risk of deal failure due to significant minority shareholder opposition
Insights
Elliott Investment Management's firm opposition to Emerson's tender offer marks a pivotal moment in the industrial software sector's consolidation landscape. With a substantial
This situation mirrors previous contested buyouts where minority shareholders successfully negotiated better terms. The term "highly opportunistic" in Elliott's statement typically signals their belief that the timing takes advantage of temporary market conditions or undervaluation, rather than reflecting AspenTech's long-term potential in the rapidly growing industrial software market.
The dynamics are particularly complex given Emerson's existing majority stake in AspenTech. Historical precedents suggest three likely outcomes: 1) Emerson could raise its offer to secure Elliott's support, 2) a prolonged negotiation period could ensue, or 3) the deal could face significant delays or potential restructuring. The statement's decisive tone, emphasizing "no intention of tendering," indicates Elliott's strong conviction in AspenTech's higher intrinsic value.
For minority shareholders, Elliott's stance provides significant leverage in negotiations. Their public opposition typically forces acquiring companies to reassess their valuation models and often results in improved terms. The industrial software sector's robust growth trajectory and AspenTech's strategic position in digital transformation solutions suggest substantial untapped value that isn't reflected in the current offer.
"As the largest minority investor in AspenTech, we disagree with the Company's decision to support a
About Elliott
Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately
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SOURCE Elliott Investment Management L.P.
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