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Autodesk, design software maker, is acquired by investors, trying to make changes.

TraderKnows
TraderKnows
06-17

Recently, media reports have revealed that an activist investor has acquired the design software manufacturer Autodesk and plans to implement reforms.

According to The Wall Street Journal, activist investor Starboard Value has acquired approximately $500 million worth of shares in design software maker Autodesk Inc. and is advocating for changes within the company.

It has been reported that Starboard held meetings with Autodesk executives over the past few weeks, expressing their concerns and suggesting several measures, including increasing profit margins, altering the board of directors, and managing the impact of a recent accounting investigation that negatively affected the stock price.

Starboard criticized Autodesk for failing to disclose the investigation and other key updates before the deadline for shareholder nominations of board candidates at the end of March.

It is understood that Starboard is considering legal action to reopen Autodesk's board nomination window and delay the company's annual shareholder meeting, originally scheduled for July 16th.

Currently, Autodesk has not responded to requests for comment.

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Acquisition

Acquisition refers to the process in which a company or individual gains control or ownership of a target company by purchasing its equity or assets.

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