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WEST PALM BEACH,Fla.,Feb. 7,2025 -- Elliott Investment Management L.P. ("Elliott"),which manages funds that together have an investment of more than $1.5 billion in Aspen Technology,Inc. (NASDAQ: AZPN) (the "Company" or "AspenTech"),today issued the following statement regarding the Company's recently announced agreement with Emerson Electric Co. (NYSE: EMR) ("Emerson"):
"As the largest minority investor in AspenTech,we disagree with the Company's decision to support a $265.00 per share tender offer by its majority stockholder,Emerson,to acquire the AspenTech shares it does not already own. Emerson's offer is highly opportunistic and substantially undervalues the Company. Elliott has no intention of tendering its shares at the current price."
About Elliott
Elliott Investment Management L.P. (together with its affiliates,"Elliott") manages approximately$69.7 billionof assets as ofJune 30,2024. Founded in 1977,it is one of the oldest funds under continuous management. The Elliott funds' investors include pension plans,sovereign wealth funds,endowments,foundations,funds-of-funds,high net worth individuals and families,and employees of the firm.
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