Altium Will Continue to Engage With Suitor Autodesk on Value
June 17 2021 - 8:40PM
Dow Jones News
By Stuart Condie
SYDNEY--Altium Ltd. Chairman Sam Weiss said the software firm
will continue to engage with Autodesk Inc. following its rejection
of the Nasdaq-listed firm's takeover proposal on valuation
grounds.
Mr. Weiss told an investor call on Friday that the board of
Australia-listed Altium would continue to speak with Autodesk
President and Chief Executive Andrew Anagost.
Altium this month rejected Autodesk's unsolicited proposal,
which valued Altium's equity at about $3.91 billion and was
described by analysts as opportunistic.
"As a public company, we are always mindful of shareholder value
and we have no preconceived opposition to an acquisition," Mr.
Weiss said. "However, we believe it should be at the point and at a
price that reflects the unique value of Altium as a company and its
demonstrated and future wealth creation potential."
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
June 17, 2021 20:31 ET (00:31 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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