Emerson Electric Proposes Acquisition of AspenTech

(Reuters) – Emerson (NYSE:EMR) Electric proposed on Tuesday to acquire the remaining outstanding shares of common stock of AspenTech for $240 per share in cash.

Emerson holds a 55% majority share in AspenTech, which it acquired in 2022. Shares of AspenTech rose about 4% in premarket trade.

St. Louis, Missouri-based Emerson, founded a century ago selling fans and electric motors, has made numerous acquisitions and divestments in recent years to reposition itself as a technology-focused company.

Additionally, Emerson announced it began exploring strategic alternatives, including a cash sale, for its Safety & Productivity unit, which includes the remaining businesses not associated with its automation portfolio.