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Aspen Technology, Inc. ("AspenTech")
AZPN today announced the
terms of a recommended all cash offer for the entire issued and to be
issued share capital of KBC Advanced Technologies plc ("KBC") by ATI
Global Optimisation LTD, a wholly owned subsidiary of AspenTech. Under
the terms of the offer, KBC shareholders will receive 185p in cash for
each share. The transaction values KBC at approximately £158 million or
approximately $230 million at the current exchange rate. Both companies'
boards of directors unanimously support the transaction.
The transaction will be funded by cash on hand of approximately $91
million and committed financing. AspenTech plans to replace the
committed financing with proceeds from a proposed $250 million revolving
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