Emerson sharpens automation focus with offer for rest of AspenTech in $15 billion deal

Quick Summary:

:Emerson Electric on Tuesday proposed to buy the rest of AspenTech that it does not own at a valuation of $15.1 billion, sharpening its focus on industrial automation.

The company in 2021 merged its software units with smaller rival Aspen Technology to own about 55 per cent in the combined entity.

AspenTech's shares climbed about 5 per cent to $249.80 in premarket trade on Tuesday.

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Category: EconomyBusiness

Markets: Singapore

Topics: Automation 2025 Emerson Billion Cent York Company Stock Aspentech Electric Fiscal

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 20:13:55 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 380 words

Reading Time: 3 minutes read

Sentences: 16 lines

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Copyright Owner: © Channel News Asia

News ID: 23431732

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