- Emerson Electric Co EMR is discussing a deal to merge its software assets with Aspen Technology Inc 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
