July 19 (Reuters) - Software maker Autodesk Inc
said on Monday it had ended takeover talks with peer Altium Ltd
, weeks after the Australian firm rejected its A$5.05
billion ($3.74 billion) offer.
"We are not commenting on matters with Altium but can
confirm that acquisition discussions have ceased at this time,"
a spokesperson for the U.S.-based company said in an email
The news comes after shares of Altium, which counts Apple,
Facebook, Tesla, BMW, Intel and Samsung among its customers,
slumped nearly 14% in early trade on reports that Autodesk had
walked away from the deal.
After a trading halt, the stock pared losses and was just
1.4% lower at A$36.03 by 0549 GMT.
According to media reports, Autodesk had raised its bid to
A$40 per share from its initial A$38.50 before ending its
The revised deal would have valued Altium at A$5.25 billion.
Altium said earlier on Monday it had not received a fresh bid.
Autodesk had been looking to leverage Altium's electronics
design software with its engineering and manufacturing software
platforms to provide its users with a host of applications under
one cloud network.
($1 = 1.3510 Australian dollars)
(Reporting by Savyata Mishra in Bengaluru; Editing by
Subhranshu Sahu and Arun Koyyur)