Independent Franchise Partners, LLP (“Franchise Partners”) has recently announced that it owns 489,000 shares in Aspen Technology, Inc. (“AspenTech”), which accounts for 0.7% of the company’s issued share capital. Franchise Partners, a top 20 shareholder of AspenTech, has been a supportive owner since 2023.
However, Franchise Partners has expressed disappointment with the decision of AspenTech’s Board of Directors to endorse the current cash tender offer made by Emerson. The offer of $265 per share is considered opportunistic and only represents a 12% premium to the average share price over the 60 days leading up to the deal announcement. Franchise Partners believes that this offer significantly undervalues AspenTech, failing to recognize its scarcity value and potential for revenue and free cash flow growth.
In light of this, Franchise Partners has stated that it has no intention of tendering its shares at the current price.
Franchise Partners was established in 2009 with the aim of offering its Franchise investment approach to institutional investors through a dedicated investment management partnership. The Franchise strategy focuses on investing in a concentrated portfolio of high-quality businesses trading at attractive valuations, and adopts a buy-and-hold approach to security selection.
For media inquiries, please contact Franchise Partners at +44 207 495 9070 or contact@franchisepartners.com. This news has been distributed by Pressat, a leading press release distribution service.
