Emerson (EMR) has agreed to buy all Aspen Technology (AZPN) shares it does not already own for $265 apiece in an all-cash deal that values the company at about $17 billion, the companies said Monday.
Deal completion is anticipated in H1, following which Aspen Technology shares will stop trading on the Nasdaq, the companies said.
Emerson currently owns nearly 57% of Aspen Technology's outstanding shares, the companies said, adding that the deal has been unanimously recommended by a special committee of Aspen Technology's board and by Emerson's board.
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