Altium Rejects Unsolicited Takeover Proposal by Autodesk Inc.
07 Juni 2021 - 4:05AM
Dow Jones News
By Stuart Condie
SYDNEY--Altium Ltd. on Monday rejected an unsolicited takeover
proposal by Autodesk Inc. as it significantly undervalued the
company's prospects.
Autodesk had made an offer of 38.50 Australian dollars
(US$29.81) a share for the ASX-listed company.
Autodesk's proposal followed talks about a strategic partnership
between the two companies. Altium said it would engage with
interested parties on what it considered an appropriate
valuation.
Shares in Altium were up 36% at A$37.00, their highest level in
six months.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
June 06, 2021 21:56 ET (01:56 GMT)
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