ALU altium limited
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News: ALU UPDATE 1-Australia's Altium rejects $3.9 bln offer from U.S. software firm Autodesk

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    07/06/21
    11:45
    Post #: 53689034

    (Adds details on rejection, premium)

    June 7 (Reuters) - Software maker Altium Ltd (ALU) said on Monday it had rejected a formal buyout proposal from American peer Autodesk Inc ADSK.O that valued the company at A$5.05 billion ($3.91 billion).

    The U.S. firm that makes AutoCAD software offered A$38.50 for each share of Altium, a 41.5% premium to the stock's last closing price.

    Altium's board said Autodesk's proposal significantly undervalued the company's prospects.

    ($1 = 1.2923 Australian dollars)

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