Autodesk (ADSK) Shares Rise After Dropping Acquisition of PTC Inc.

by MarketNewsData

Autodesk (ADSK) shares jumped 5.56% to $295.98 after the company confirmed it’s no longer pursuing an acquisition of PTC Inc.

  • The move ends weeks of speculation following reports of takeover talks between the two software makers.
  • Investors appear to welcome the decision, with the stock adding over $15 in Tuesday trading.
  • Analysts had expressed concern that a deal could dilute Autodesk’s focus and require significant leverage or integration risk.

PTC shares fell 2.1% on the news, suggesting markets viewed the combination as more beneficial to PTC than to Autodesk.

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