Emerson Electric Co. (NYSE:EMR) plans to merge two of its software businesses with smaller rival Aspen Technology, Inc. (NasdaqGS:AZPN) in a deal worth about $11 billion, the Wall Street Journal reported on October 11, 2021. The cash-and-stock transaction would value AspenTech at about $160 per share, the report said, citing company officials.

The price implies a premium of about 27% to AspenTech's close on October 6, 201, before Bloomberg News first reported talks between the two companies, and about 13% to the company's last close on October 8, 2021. AspenTech shareholders will receive $87 and 0.42 share of the combined company for each share they currently own, the Journal said, adding that the deal is expected to be announced later on October 11, 2021. Both companies did not respond to Reuters' requests for comment.