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January 2, 1997updated 05 Sep 2016 1:07pm

AUTODESK RAISES BID FOR SOFTDESK TO SEE OFF RIVAL

By CBR Staff Writer

Autodesk Inc, San Rafael, California was not prepared to be gazumped on its agreed bid for Softdesk Inc, and it has raised its offer to $15 a share, or about $90m, after a second, unidentified, suitor made a competing proposal. Under the definitive agreement, Autodesk will pay the $15 a share in new shares based on the average closing prices for the five trading days before the closing date. The originally agreed price had been $12 a share, or about $72m. Dave Arnold, chief executive of Softdesk, said the Henniker, New Hampshire company was committed to the Autodesk merger.

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