Autodesk Ends Acquisition Talks with Altium
July 20 2021 - 6:44PM
Dow Jones News
By Kimberly Chin
Autodesk Inc. on Tuesday ended its talks to potentially acquire
Australian software firm Altium Ltd.
Altium in June rejected Autodesk's unsolicited takeover proposal
on valuation grounds. The initial offer valued Altium's equity at
about $3.91 billion and was described by analysts as
opportunistic.
"While we did verbally improve our initial proposal, we were
unable to agree on the basis to advance discussions. We respect the
leadership team at Altium and wish them the best with their
business," Autodesk Chief Executive Andrew Anagnost said in a
statement.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
July 20, 2021 18:31 ET (22:31 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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