Emerson to merge software units with AspenTech in $11 billion deal

Emerson Electric Co is displayed on a screen on the floor at the NYSE in New York

(Reuters) – Industrial-automation systems maker Emerson Electric Co said on Monday it would merge its software units with smaller rival Aspen Technology in a deal for about $11 billion.

The cash-and-stock deal is for about $160 per AspenTech share, the company said.

(Reporting by Sanjana Shivdas in Bengaluru; editing by Uttaresh.V)