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    ADSK   US0527691069

AUTODESK, INC.

(ADSK)
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Autodesk : ends takeover talks with Australian software maker Altium

07/19/2021 | 02:15am EDT

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 statement.

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 interest.

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)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALTIUM LIMITED 1.38% 36.03 End-of-day quote.6.00%
AUTODESK, INC. -0.14% 283.19 Delayed Quote.-7.12%
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Analyst Recommendations on AUTODESK, INC.
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Financials (USD)
Sales 2022 4 367 M - -
Net income 2022 547 M - -
Net cash 2022 114 M - -
P/E ratio 2022 114x
Yield 2022 -
Capitalization 62 259 M 62 259 M -
EV / Sales 2022 14,2x
EV / Sales 2023 11,6x
Nbr of Employees 11 500
Free-Float 99,7%
Chart AUTODESK, INC.
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Technical analysis trends AUTODESK, INC.
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 283,19 $
Average target price 343,71 $
Spread / Average Target 21,4%
EPS Revisions
Managers and Directors
Andrew Anagnost President, Chief Executive Officer & Director
Deborah Lynn Clifford Chief Financial Officer & Executive Vice President
Stacy J. Smith Non-Executive Chairman
Venmal Arasu Chief Technology Officer
Mary T. McDowell Independent Non-Executive Director
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