(AZPN): Johnson Fistel Investigates Proposed Sale of Aspen Technology Inc; Are Shareholders Getting a Fair Deal?
Under the agreement terms, AspenTech stockholders will receive $87 in cash and 0.42 shares of Emerson common stock for each share of AspenTech common stock owned.
SAN DIEGO, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Aspen Technology, Inc. (NASDAQ: AZPN) ("AspenTech" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to Emerson Electric Co. ("Emerson") (NYSE: EMR).
On October 11, 2021, AspenTech announced entering into a definitive merger agreement with Emerson. Under the agreement terms, AspenTech stockholders will receive $87 in cash and 0.42 shares of Emerson common stock for each share of AspenTech common stock owned. AspenTech shareholders will be subject to the future price fluctuation of Emerson's stock price.
The investigation concerns whether the AspenTech board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for AspenTech shares of common stock. Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst had a $176 price target on the stock.
If you are a shareholder of AspenTech and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
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