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Davis Polk, Skadden head Emerson units’ $11 bln AspenTech merger

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Davis Polk & Wardwell's legal offices in New York City. REUTERS/Andrew Kelly

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  • Davis Polk counsels repeat adviser Emerson
  • Skadden pairs with AspenTech

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(Reuters) - Davis Polk & Wardwell and Skadden, Arps, Slate, Meagher & Flom are guiding Emerson Electric Co’s plans to merge its software units with smaller software maker Aspen Technology in an $11 billion deal.

Emerson announced the deal on Monday as mergers and acquisitions in the technology space are facing increased antitrust scrutiny from U.S. regulators.

St. Louis-based Emerson has turned to longtime adviser Davis Polk for guidance on the AspenTech deal. The Davis Polk team includes M&A partners Phillip Mills, Marc Williams and Cheryl Chan.

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The firm has advised Emerson on several transactions, including a $1.6 billion acquisition of Open Systems International, Inc, according to a firm press release. Williams also worked on that transaction.

AspenTech is working with Skadden. The firm’s team includes M&A partners Graham Robinson and Chadé Severin; intellectual property and technology partner Resa Schlossberg; antitrust and competition partners Kenneth Schwartz and Giorgio Motta; tax partner Moshe Spinowitz; executive compensation and benefits partner Regina Olshan; and litigation partners Robert Saunders and Joseph Larkin.

The merger between the companies is expected to close in 2022’s second quarter.

Emerson’s financial advisers are Goldman Sachs & Co. LLC and Centerview Partners. Bedford, Massachusetts-based AspenTech’s financial adviser is J.P. Morgan Securities LLC.

Read more:

Emerson's software units, AspenTech to merge in $11 bln deal

Big Tech's little mergers draw more U.S. antitrust scrutiny

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Sierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes. Reach her at sierra.jackson@thomsonreuters.com

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