Siemens Seals Altair Deal, Eyes More – Merger Arbitrage Mondays

Altair Engineering (ALTR): $104

Market Cap: $8.86 B

Deal Size: $10.32 B

Siemens AG entered into a merger agreement on October 31, 2024, to acquire U.S.-based engineering software firm Altair Engineering for $10.32 billion. Under the terms of the agreement, Siemens will acquire Altair in an all-cash transaction for $113 per share, representing a 4% premium over the stock’s last closing price.

Earlier in the month, Reuters reported that Altair was exploring a sale after receiving acquisition offers. Altair’s stock was trading at $95.18 before reports emerged about Cadence Design Systems (CDNS) being one of the potential bidders. Shortly thereafter, speculation about Siemens being in talks with Altair began to circulate.

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