Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<a href="https://www.smartkarma.com/entities/altium-ltd" target="_blank" data-smartkarma-citation="entities:18626:1" rel="noopener">Altium Ltd (ALU AU)</a>, a global software company, <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02382370-2A1302312?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">confirmed and subsequently rejected</a> a non-binding proposal from <a href="https://www.smartkarma.com/entities/autodesk-inc" target="_blank" data-smartkarma-citation="entities:13211:1" rel="noopener">Autodesk Inc (ADSK US)</a>.
The A$38.50/share cash offer by way of a Scheme, was a 41.5% premium to last close and a 47.4% premium to the one-month VWAP.
The indicative proposal was subject to a number of conditions including due diligence, Altium board support, the receipt of all applicable regulatory approvals, and no material adverse changes.
Concerning the offer, Altium said:
<blockquote>
[Altium] considers the Proposal significantly undervalues Altium's prospects and therefore rejects the Proposal at the current price. Altium has a unique position in the electronics  ecosystem and in the past unsolicited acquisition interest has developed from partnership dialogues with others in the ecosystem.
</blockquote>
Shares closed today at $36.78, up more than 35%.
More below the fold.

Altium Ltd (ALU AU), a global software company, confirmed and subsequently rejected a non-binding proposal from Autodesk Inc (ADSK US).
The A$38.50/share cash offer by way of a Scheme, was a 41.5% premium to last close and a 47.4% premium to the one-month VWAP.
The indicative proposal was subject to a number of conditions including due diligence, Altium board support, the receipt of all applicable regulatory approvals, and no material adverse changes.
Concerning the offer, Altium said:

[Altium] considers the Proposal significantly undervalues Altium's prospects and therefore rejects the Proposal at the current price. Altium has a unique position in the electronics  ecosystem and in the past unsolicited acquisition interest has developed from partnership dialogues with others in the ecosystem.

Shares closed today at $36.78, up more than 35%.
More below the fold.

Australia

Altium Limited develops electronic design automation (EDA) software for the Microsoft Windows operating system.  Altium's products facilitate and aid in the design of electronic products such as printed circuit boards.  The Group's products are utilized by telecommunications, automotive, defense, science and consumer electronics industries.

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Altium Ltd (ALU AU)

Altium Ltd (ALU) Rebuffs Autodesk Offer

Altium is clearly in play, and optically, Autodesk's bid appears opportunistic in the face of Covid and Altium's restructuring. An offer north of...

David Blennerhassett

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