Altium Acquisition Approved by Supreme Court

Altium (AU:ALU) has released an update.

Altium Limited has announced the approval by the Supreme Court of New South Wales for its acquisition by Renesas Electronics’ subsidiary via a scheme of arrangement. The acquisition will become legally effective upon lodgment with the Australian Securities and Investments Commission, which is expected to occur on 19 July 2024, with Altium’s shares to be suspended from trading thereafter. Altium shareholders will receive A$68.50 per share when the arrangement is implemented on 1 August 2024.

For further insights into AU:ALU stock, check out TipRanks’ Stock Analysis page.