(Reuters) – Manufacturing giant Emerson Electric Co plans to merge two of its software businesses with Aspen Technology Inc in a roughly $11 billion deal, the Wall Street Journal reported on Monday, citing officials from the companies.
The cash-and-stock deal would value AspenTech at around $160 a share, according to the report, and is expected to be announced later on Monday.
Bloomberg News reported last week that Emerson had been in talks to merge its software assets with Aspen.
(Reporting by Mrinmay Dey in Bengaluru; Editing by Ramakrishnan M.)
