Activist Elliott takes a stake in Aspen Technology and pushes back on an offer from Emerson
Elliott's opposition suggests potential for higher share price, reflecting strong investor interest.
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Elliott's opposition suggests potential for higher share price, reflecting strong investor interest.
What happened, with direct paths to the underlying reporting
Elliott Investment Management takes $1.5B position in Aspen Technology (AZPN). Elliott opposes Emerson's $265 tender offer, citing undervaluation of Aspen. Current share price indicates artificial ceiling due to acquisition bid. Strong operational synergies suggested, fair value estimated above $350. Elliott's activist role may influence outcome of tender offer vote.
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