Autodesk (ADSK) is no longer pursuing an acquisition of PTC (PTC), Bloomberg’s Ryan Gould reports, citing people familiar with the matter. Autodesk said it remains focused on executing its strategic priorities, including “allocating capital to organic investment, targeted and tuck-in acquisitions,” according to a regulatory filing. The “hefty price tag, financial constraints and resistance from Starboard Value” were likely negative factors against a deal this size, Bloomberg says.
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