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Latham & Watkins Represents Siemens in US$10 Billion Acquisition of Altair Engineering

October 30, 2024
Multidisciplinary team advises Siemens in cross-border transaction strengthening leadership in industrial software and AI.

Siemens has announced that it has signed an agreement to acquire Altair Engineering Inc., a leading provider of software in the industrial simulation and analysis market. Altair shareholders will receive US$113 per share, representing an enterprise value of approximately US$10 billion. The offer price represents a 19% premium to Altair's unaffected closing price on October 21, 2024, the last trading day prior to media reports regarding a possible transaction. With this acquisition Siemens strengthens its position as a leading technology company and its leadership in industrial software.

Latham & Watkins LLP represents Siemens in the transaction with a corporate deal team led by New York partners Eyal Orgad, Daniel Williams, Robert Katz, and James Gorton, with associates Sašo Kraner, Katherine Cody, and Sean Lyuk. Advice was also provided on German corporate matters by Munich partners Rainer Traugott and Stephan Hufnagel; on compensation and benefits matters by Los Angeles partner Larry Seymour; on US antitrust matters by Washington, D.C. partners Michael Egge and Jason Cruise; on ex-US antitrust matters by London partner Jonathan Parker, Hamburg partner Jana Dammann de Chapto, and Brussels partners Sven Völcker, and Héctor Armengod; on CFIUS matters by Washington, D.C. partner Les Carnegie and Washington, D.C. counsel Catherine Hein; on regulatory matters by Washington, D.C. partner Kyle Jefcoat and Washington, D.C. counsel Andrew Galdes; on environmental matters by Washington, D.C. partner James Barrett; on labor and employment matters by Chicago partner Nineveh Alkhas; on real estate matters by Chicago counsel Jeffrey Anderson; on tax matters by Bay Area partner Katharine Moir; on intellectual property matters by Orange County counsel David Kuiper; on data privacy matters by Houston/Austin counsel Robert Brown; on finance matters by New York partner Scott Ollivierre; and on capital markets matters by Los Angeles partner Arash Aminian Baghai.

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