Aspen Technology (AZPN) announced that its Board of Directors has formed a special committee composed of three independent directors to consider the non-binding proposal from Emerson Electric (EMR) received on November 5 . Emerson and its affiliates currently own 57.4% of the company’s outstanding common shares. The Special Committee is composed of Board Chair Robert Whelan, Jr., who will serve as Chair of the Special Committee, Arlen Shenkman and David Henshall. Qatalyst Partners and Citi are serving as independent financial advisors to the Special Committee and Skadden, Arps, Slate, Meagher & Flom LLP is serving as its legal counsel in connection with its review and evaluation of the proposed transaction. The Company reiterates that no action is required by its shareholders at this time.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AZPN:
- Emerson price target raised to $116 from $103 at Barclays
- Aspen Technology confirms receipt of unsolicited takeover proposal from Emerson
- Boeing union to end strike, Palantir reports Q3 beat: Morning Buzz
- Emerson proposes to acquire Aspen Technology for $240 per share in cash
- Aspen Technology Reports Steady Q1 2025 Results
Questions or Comments about the article? Write to editor@tipranks.com