Thoughts on ALU & APT

Hi Mick,

Thanks for the positive feedback, at this stage 2 very different scenarios here courtesy of M&A activity. NB, we own Altium (ALU) but we don’t own Afterpay (APT).

• Altium (ALU)) $35.01 – Following Autodesk’s (ADSK US) withdrawal of its $38.50 (potentially $40) bid for ALU this has become more a fundamental play, the reason we went long in the first place. We like ALU’s medium-term outlook targeting fresh all-time highs. I would be very surprised if their upcoming results on the 23rd August were not  better than the market currently expects.
• Afterpay (APT) $131.71 – Following Squares (SQ US) bid for APT, the APT share price will simply trade as an ASX listed proxy for Square shares given it is an all scrip offer. We like the rationale of the SQ takeover along with the SQ business more broadly therefore we’d stay long if we held it.

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Altium Ltd (ALU)

LAST UPDATED 06/08/2021 15:35

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Altium Ltd (ALU)

LAST UPDATED 06/08/2021 15:35