Emerson Electric said on Monday that its $265 per-share offer to acquire Aspen Technology was its “best and final” price.
The announcement comes days after activist investor Elliott Management said it invested over $1.5 billion in Aspen, opposing the company’s decision to accept Emerson’s $7.2 billion tender offer.
“Our break price is ~$202 (though there is above-average difficulty in pinning it down), making it less obvious as a bump play and resting it on a view that Emerson would not want to risk tender failure,” UBS analysts said in a note.
Emerson, which owns 57 per cent of Aspen, agreed last month to acquire the remaining shares in the industrial software supplier.
The all-cash tender offer is set to expire on March 10, assuming the minimum required number of shares are tendered.
