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ASX slips; Altium rejects $5b bid; AUSTRAC action spooks investors – The Sydney Morning Herald

The S&P/ASX200 was flat on Monday as gains for the miners, CSL, and tech stocks were wiped out by the banks, Wesfarmers and Telstra.

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Altium has rejected a $5.05 billion takeover proposal from Nasdaq-listed software giant Autodesk, saying the offer undervalues its business.
Altium has recruited Goldman Sachs for its defence after being approached over the weekend and said the offer evolved from a dialogue about a strategic partnership with the $US62 billion Autodesk, which is known for its computer-aided design software.
The ASX tech firm remains in a trading pause after it knocked back Autodesks non-binding, indicative and unsolicited…

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