Emerson Electric (EMR.US) has offered to buy the remaining shares of Aspen Technology (AZPN.US) for $240/share in cash.

Zhitong Finance learned that Emerson Electric (EMR.US) proposed to acquire the remaining outstanding shares of Aspen Technology (AZPN.US) for $240 per share in cash, aiming to complete its portfolio transformation and become an industrial technology expert focused on automation. The acquisition offer means Aspen Technology's fully diluted market capitalization is $15.3 billion and enterprise value is $15.1 billion.

Emerson Electric currently owns about 57% of Aspen Technology's outstanding shares. The proposed transaction follows Emerson Electric's majority investment in the industrial software company in 2022. After the transaction, Aspen Technology will become a wholly-owned subsidiary of Emerson Electric. The company expects the proposed synergies to have a neutral impact on its adjusted EPS in fiscal 2025.

Emerson Electric said in a press release: "The combination of Emerson Electric and Aspen Technology will advance key plans, create new opportunities through the full integration of the two companies, and further accelerate Emerson Electric's industrial software strategy."

Emerson Electric also announced two other strategic actions as part of its portfolio transformation: it plans to repurchase about $2 billion of common stock in fiscal 2025 and initiates a process to explore strategic options for its Safety and Productivity Solutions business, including a cash sale.

Moreover, Emerson Electric reported its fourth-quarter financial results. As of the time of writing, its stock price rose 6% before the market opened on Tuesday, while Aspen Technology's stock price rose 5%.