Autodesk Confirms A$38.50/shr Proposal To Buy Altium

(RTTNews) - Autodesk Inc. (ADSK) confirmed that it has submitted a non-binding proposal to acquire all the outstanding shares of common stock of Altium Limited (ALU.AX) for A$38.50 per share, to be implemented by way of a scheme of arrangement.

Altium is a software company headquartered in San Diego, California and publicly traded on the Australian Securities Exchange. The company develops software used by printed circuit board (PCB) designers and electrical engineers at organizations around the world to deliver connected, intelligent products.

The proposal represents a 41.5% premium over Altium's closing price of A$27.21 on June 4, 2021.