- Law firms
- 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.
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.