Elliott says Emerson proposal ‘unfair’ to Aspen Technology shareholders

Elliott Investment Management, which manages funds that together have an investment of more than $1.5B in Aspen Technology (AZPN) issued the following statement regarding the tender offer by Emerson (EMR) for all AspenTech shares it does not currently own: “Emerson’s proposal to acquire AspenTech is clearly the result of a conflicted and deeply flawed process, bearing all the hallmarks of an opportunistic minority squeeze-out. Furthermore, Emerson’s public statements and actions leading up to the commencement of the Tender Offer underscore its coercive intent toward minority stockholders. This transaction is unfair to minority stockholders, and we intend to pursue all appropriate remedies against Emerson.”