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Aspen Technology Shares Jump Premarket On Potential Software Merger Deal With Emerson Electric

October 7, 2021 7:48 am
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Aspen Technology Shares Jump Premarket On Potential Software Merger Deal With Emerson Electric
  • Emerson Electric Co (NYSE:EMR) is discussing a deal to merge its software assets with Aspen Technology Inc (NASDAQ:AZPN) to create an industrial software giant, Bloomberg reports.
  • The financial terms remain unknown.
  • Emerson aims to gain majority control of the combined entity for its shareholders.
  • Aspen would keep its public listing. Its management will stay on and run the combined software entity.
  • In 2020, Emerson agreed to acquire Open Systems International for $1.6 billion.
  • Aspen manufactures software for companies in industries. It has previously considered a range of options, including a sale of all or part of the company. 
  • Price Action: AZPN shares are trading higher by 13.1% at $141.99 premarket on the last check Thursday.

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