Item 1.01 Entry into a Material Definitive Agreement.
Amendment No. 2 to the Transaction Agreement and Plan of Merger
As previously disclosed, on October 10, 2021, Aspen Technology, Inc.
("AspenTech") entered into the Transaction Agreement and Plan of Merger, as
amended by Amendment No. 1 dated as of March 23, 2022 (the "Transaction
Agreement"), among AspenTech, Emerson Electric Co. ("Emerson"), EMR Worldwide
Inc., a wholly owned subsidiary of Emerson ("Emerson Sub"), Emersub CX, Inc., a
wholly owned subsidiary of Emerson ("New AspenTech"), and Emersub CXI, Inc., a
direct wholly owned subsidiary of New AspenTech ("Merger Subsidiary"), pursuant
to which Emerson Sub will contribute two of Emerson's industrial software
businesses-Open Systems International, Inc. and the Geological Simulation
Software business-to New AspenTech in exchange for New AspenTech common stock,
and Merger Subsidiary will merge with and into AspenTech, with AspenTech as the
surviving corporation and becoming a wholly owned subsidiary of New AspenTech
(these transactions and other transactions contemplated by the Transaction
Agreement, the "Transactions").
On May 3, 2022, AspenTech, Emerson, Emerson Sub, New AspenTech, and Merger
Subsidiary entered into Amendment No. 2 to the Transaction Agreement ("Amendment
No. 2"). Under Amendment No. 2, AspenTech, Emerson, Emerson Sub, New AspenTech,
and Merger Subsidiary have agreed to amend the Transaction Agreement to, among
other things, provide for transfers of certain assets and employees in certain
foreign jurisdictions from Emerson to New AspenTech after the closing of the
Transactions, which is expected in the second calendar quarter of 2022.
The foregoing description of Amendment No. 2 does not purport to be complete,
and is qualified in its entirety by reference to the full text of Amendment No.
2 which is attached hereto as Exhibit 2.1 and is incorporated herein by
reference.
For a more detailed description of the Transaction Agreement and the
Transactions, please see the Definitive Proxy Statement on Schedule 14A filed
with the Securities and Exchange Commission (the "SEC") by AspenTech on April
18, 2022.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
In connection with the Transactions, New AspenTech has filed with the SEC, and
the SEC has declared effective on April 18, 2022, a registration statement on
Form S-4 (File No. 333-262106) that includes a proxy statement of AspenTech and
that also constitutes a prospectus with respect to shares of New AspenTech's
common stock to be issued in the proposed transaction ("Combined Proxy
Statement/Prospectus"). AspenTech and New AspenTech may also file other
documents with the SEC regarding the Transactions. This document is not a
substitute for the Combined Proxy Statement/Prospectus or any other document
which AspenTech or New AspenTech may file with the SEC. INVESTORS, ASPENTECH
STOCKHOLDERS AND PROSPECTIVE NEW ASPENTECH STOCKHOLDERS ARE URGED TO READ THE
COMBINED PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE
FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO
THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL
CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTIONS AND RELATED MATTERS.
Investors, AspenTech stockholders and prospective New AspenTech stockholders may
obtain free copies of the Combined Proxy Statement/Prospectus and other
documents that are filed or will be filed with the SEC by AspenTech or New
AspenTech through the website maintained by the SEC at www.sec.gov or by
contacting the investor relations departments of AspenTech or Emerson at the
following:
Emerson AspenTech
8000 West Florissant Avenue, P.O. Box 4100 20 Crosby Drive
St. Louis, MO 63136
Bedford, MA 01730
www.emerson.com/en-us/investors http://ir.aspentech.com/
Colleen Mettler, Vice President, Brian Denyeau
Investor Relations ICR
(314) 553-2197 Brian.Denyeau@icrinc.com
investor.relations@emerson.com
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PARTICIPANTS IN THE SOLICITATION
AspenTech or New AspenTech and their respective directors and executive officers
may be deemed to be participants in the solicitation of proxies in respect of
the Transactions. AspenTech stockholders and prospective New AspenTech
stockholders may obtain additional information regarding the direct and indirect
interests of the participants in the solicitation of proxies in connection with
the Transactions, including the interests of AspenTech and New AspenTech
directors and executive officers in the Transactions, which may be different
than those of AspenTech and prospective New AspenTech stockholders generally, by
reading the Combined Proxy Statement/Prospectus and any other relevant documents
that are filed or will be filed with the SEC relating to the transaction. You
may obtain free copies of these documents using the sources indicated above.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
2.1^ Amendment No. 2 to the Transaction Agreement and Plan of Merger, dated
as of May 3, 2022, among Aspen Technology, Inc., Emerson Electric Co.,
EMR Worldwide Inc., Emersub CX, Inc. and Emersub CXI, Inc.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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^ Certain schedules to Amendment No. 2 to the Transaction Agreement and Plan of
Merger have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The
registrant will furnish copies of any such schedules to the U.S. Securities and
Exchange Commission upon request.
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