Emerson Electric's $265 per share tender offer for Aspen Technology is labeled as its best and final price despite criticism from Elliott

Electric confirmed on Monday its "best and final" offer of $265 per share to acquire Aspen Technology (NASDAQ:AZPN). This confirmation comes after activist investor Elliott Management expressed opposition to Aspen's decision to accept Emerson's $7.

The announcement comes days after activist investor Elliott Management said it invested over $1.5 billion in Aspen, opposing the company's decision to accept Emerson's $7.2 billion tender offer. "Our break price is ~$202 (though there is above-average difficulty in pinning it down),

With a more than $1.5 billion Emerson holding, Elliott has claimed that the $265-per-share offer undervalues Aspen Tech and is advocating a larger proposal. Mark Schappel, a Loop Capital analyst, said Elliott is probably going to persuade enough minority investors Aspen Tech is worth far more than Emerson's current offer.

Elliott Investment Management has emerged as the largest minority investor in industrial-software company Aspen Technology Inc., with a position worth more than $1.5 billion, people with knowledge of the matter said.

Late last week, the West Palm Beach-based hedge fund released a statement disclosing it was the largest minority owner of AspenTech, with more than a $1.5 billion stake in the company — and that it opposes the merger.