WASHINGTON (dpa-AFX) - Emerson Electric Co. (EMR) is in talks over a merger with Aspen Technology Inc. (AZPN) to create an industrial software giant, Bloomberg reported citing people familiar with the matter.
According to the reports, Emerson is discussing a deal to merge its software assets with Aspen Tech and gain majority control of the combined entity for its shareholders. No final decisions have been made and talks may fall apart.
AZPN closed Wednesday regular trading at $125.52 down $0.96 or 0.76%. But in the after-hours trade, the stock gained $14.98 or 11.93%.
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