Ademi LLP is investigating Aspen (Nasdaq: AZPN), for possible breaches of fiduciary duty and other violations of law in its transaction with Emerson.
Ademi LLP alleges Aspen’s financial outlook and prospects are excellent and yet Aspen shareholders will receive only $87 per share in cash and 0.42 shares of common stock of the new AspenTech, a newly formed company, for each share of AspenTech common stock they own, which implies total consideration of approximately $160 per AspenTech share, and a total transaction equity value of approximately $11 billion before synergies. We are investigating the conduct of Aspen’ board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Aspen.