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Altium Rejects Autodesk’s $ 3.9 Billion Takeover Offer



Australian software maker Altium has turned down a $ 3.9 billion takeover offer from American Autodesk.

Autodesk, a computer-aided design software company, offered 41% more than the current value of all Altium shares.

Altium considered the proposal insufficient, adding that it is ready to communicate with stakeholders and will consider “all potential strategic alternatives.”

An Autodesk spokesman said that his company is ready to continue to work with Altium. The Australian company is one of the leading developers of software for the design of electronic devices. Its clients include such giants as Apple, Facebook, Tesla, BMW, Intel and Samsung. Autodesk is interested in Altium software products with their design and manufacturing platforms.

Industry analysts believe that the deal could still go through if Autodesk raises its offer to a level that will interest the Altium board. However, Autodesk is not the only potential buyer. Potential bidders include Dassault Systemes and PCT Inc.

Altium shares soared 40.6% after the announcement of the rejection of the offer from Autodesk.

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