Autodesk Confirms Proposal to Acquire Electronic Design Software Leader Altium Limited
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Altium Rejects $3.9 Billion Takeover Bid From Autodesk (ADSK) as 'Significantly' Undervalued, Acquisition Makes Sense But Unlikely Revised Bids Will Go Higher Says Analyst
June 7, 2021 12:51 PM EDTAltium (ASX: ALU), the Australian tech company that develops software used for designing electronic products including printed circuit boards (PCB), said today it rejected a takeover offer from Autodesk (NASDAQ: ADSK) as it significantly undervalued the company.
Yesterday, ADSK issued a statement to confirm that it made an offer to acquire all shares of ALU stock at a price of AUD$38.50 apiece. This represents a 41.5% premium of the companys closing price on Friday, valuing the company at $3.9 billion.
The proposed combination would advance Autodesk's strategy to converge design and make through a unified design,... More
