Feb. 11 at 3:46 AM
$EMR $AZPN Emerson says
$265 per-share bid for Aspen is 'best and final'-Reuters
Emerson (NYSE:EMR) Electric said on Monday that its
$265 per-share offer to acquire Aspen Technology (NASDAQ:AZPN) was its "best and final" price.
"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% of Aspen, agreed last month to acquire the remaining shares in the industrial software supplier."