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Comment by whoknowswhat11 | Hacker News Reader

Wow - surprised they rejected takeover. Most of these go through after some negotiation on price - very interesting to see a firm look to preserve itself - guess I'm curious what boards plans are.

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“The Altium board appreciates the interest expressed by Autodesk ... however, it considers that the proposal significantly undervalues Altium’s prospects and therefore rejects the proposal at the current price,” the company said in a statement to the ASX.

Unfortunately, this should probably be viewed as a negotiation on price. They certainly don't have the door closed.

> Unfortunately, this should probably be viewed as a negotiation on price. They certainly don't have the door closed.

very few sane organizations would ever completely refuse. everything is a negotiation.

That's certainly fair, I think the big exception would be if the board feels they are at a local minimum, and that the potential acquirer is being overly opportunistic. Partly that's trivial, because that's when companies frequently make these types of bids.

I guess what I'm trying to say, is that if a company wants to advocate the case for proceeding as an independent entity, they will make it abundantly clear. This is not that.

> I guess what I'm trying to say, is that if a company wants to advocate the case for proceeding as an independent entity, they will make it abundantly clear. This is not that.

certainly. i'd interpret it as though they consider the offer low, but within the ballpark, and aren't offended.

OK - that would make a ton more sense and is common in these transactions - the headline should be "Altium enters negotiations on Autodesk bid".

Altium is a strategically important entity, the board isn't making a decision here.

Very interesting and unusual - these normally come down to $$$

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