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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 EST

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 -3.76% 41.42 End-of-day quote.21.86%
AUTODESK, INC. 2.52% 265.56 Delayed Quote.-15.17%
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More news
Analyst Recommendations on AUTODESK, INC.
More recommendations
Financials (USD)
Sales 2022 4 368 M - -
Net income 2022 565 M - -
Net Debt 2022 340 M - -
P/E ratio 2022 104x
Yield 2022 -
Capitalization 58 383 M 58 383 M -
EV / Sales 2022 13,4x
EV / Sales 2023 11,0x
Nbr of Employees 11 500
Free-Float 99,5%
Chart AUTODESK, INC.
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Autodesk, Inc. Technical Analysis Chart | ADSK | US0527691069 | MarketScreener
Technical analysis trends AUTODESK, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 265,56 $
Average target price 329,38 $
Spread / Average Target 24,0%
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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