Shares in Value Pty Ltd (ACN: 643 558 436) is a Corporate Authorised Representative (AFSR No. Fill in your details and download your free Report instantly for the Top 3 Dividend Stocks to buy in 2021! Click here now! We help self-directed investors and self-managed super funds (SMSF) make smarter investment decisions and get better returns. Looking for best dividend stocks to invest on the ASX? At close, ALU shares traded at $35.17 a share, well below Autodesk’s valuation of ALU shares. The impending market reaction was extremely negative. Responding to market speculation, Altium today announced that they have not received any further offer from Autodesk. There has been no news regarding an improved offer for ALU, however speculation has been high in this M&A boom we find ourselves in the midst of. The bid, however, has been rejected by Altium’s board as the company revealed that they find the offer undervalued. The takeover offer for 100% of Altium was for $38.5 a share – a then 41% premium over ALU shares. Altium received a formal, non binding, indicative, and unsolicited takeover offer. Why did Altium Shares reject the takeover bid?Ī little over a month ago, Altium shares surged on the back of an announcement regarding a takeover offer that company received from Autodesk. Given that the USA and China are the largest markets – both in terms of manufacturing and consumption of PCBs and electronic devices, Altium’s revenues are very dependent on them. These design tools are required and used all over the world by any company that manufactures printed circuit boards (PCB), and these PCBs are used in everything electronic.
They are a software company that provides electronic design software. Altium Limited (ASX: ALU) is one of the top technology firms on the ASX.