Loeb's Third Point LLC Discloses 9.1% Stake in Aspen Technology (AZPN)
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In a 13G filing on Aspen Technology, Inc. (OTC: AZPN), Daniel Loeb's Third Point LLC disclosed a 9.1% stake (8,000,000 shares) in the company. The firm did not show a stake at the quarter ended 12/31/07. A 13G indicates a 'passive investment.'
AspenTech is a leading provider of award-winning process optimization software and services. The company was delisted from NASDAQ on February 19, 2008.
Daniel S. Loeb runs $4.5 billion New York-based hedge fund Third Point LLC, which he founded in 1995. Loeb is known for his scathing letters to companies, in which he often criticizes management and pushes for changes. Loeb is considered an activist investor, but also has many passive investments.
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