Elliott builds $1.5 billion stake in Aspen, opposes Emerson deal
(Reuters) -Activist investor Elliott Management said on Friday it has invested more than $1.5 billion in Aspen Technology, opposing the company’s decision to accept Emerson Electric’s $7.2 billion tender offer. Elliott argues that Emerson’s per-share offer of $265 for Aspen undervalues the company, adding that it will not tender its shares at the current price. Aspen’s shares rose about 3%, while those of Emerson fell 2%. Emerson, which currently owns 57% of Aspen, agreed to … Read more…