- Renesas Electronics Corporation reaches an agreement to acquire all outstanding shares of Altium (ASX:ALU) through a scheme of arrangement
- Altium shareholders will receive A$68.50 per share in cash as the scheme consideration
- Renesas plans to fund the scheme consideration through existing reserves and third-party financing
- ALU last traded at $51.26
Renesas Electronics Corporation has reached an agreement to acquire all outstanding shares of Altium (ASX:ALU) through a scheme of arrangement.
Under the scheme, Altium shareholders will receive AUD$68.50 per share in cash as the scheme consideration, reflecting an equity value of A$9.1 billion and an enterprise value of A$8.8 billion for Altium.
“I strongly believe that electronics is the single most critical industry to building a smart and sustainable world. Renesas’ visionary leadership and commitment to making electronics accessible to all resonates strongly with Altium,” ALU CEO Aram Mirkazemi said.
“Altium’s vision of industry transformation finds its fullest expression in service of this grand vision of Renesas.”
Renesas plans to fund the scheme consideration through existing reserves and third-party financing.
Altium plans to release its H2 2023 financial results on February 27, 2024.
ALU last traded at $51.26.