Altair Engineering Inc. Voluntarily Supplements Proxy Statement Regarding Proposed Merger

Altair Engineering Inc. (NASDAQ: ALTR) recently filed a Form 8-K with the Securities and Exchange Commission providing supplemental information regarding its proposed merger with Siemens Industry Software Inc. The company announced that it voluntarily supplemented its Proxy Statement filed on December 18, 2024, to address certain concerns raised by lawsuits and demand letters.

The Proxy Statement detailed the upcoming special meeting of Altair’s stockholders scheduled for January 22, 2025, where they will vote on the adoption of the Merger Agreement. Three lawsuits have been filed challenging the completeness of the Proxy Statement. Additionally, several stockholders issued demand letters pointing out deficiencies in the disclosures and threatening legal action if not rectified.

Altair Engineering responded by voluntarily supplementing the Proxy Statement to address these concerns. The company clarified various sections of the Proxy Statement, including details related to the Merger Agreement, Citigroup’s financial advisory fee, and J.P. Morgan’s discounted cash flow analysis. The supplements are designed to provide additional information to stockholders and alleviate uncertainties surrounding the merger process.

Altair Engineering has stated that it believes the claims made in the lawsuits and demand letters are without merit. However, in the interest of transparency and to mitigate potential legal risks, the company chose to voluntarily enhance the disclosures in the Proxy Statement. Altair emphasized that this action does not imply any admission of legal necessity or materiality under applicable laws.

Stockholders are encouraged to carefully review the supplemented disclosures in conjunction with the Proxy Statement for a comprehensive understanding of the proposed merger and related considerations. Altair Engineering aims to address concerns, provide clarity, and ensure that stockholders are well-informed as they prepare to vote on the Merger Agreement.

Investors and shareholders of Altair Engineering are advised to stay updated on further developments related to the merger process, including potential filings with the Securities and Exchange Commission. Additional information can be accessed via the SEC’s website or Altair Engineering’s investor relations webpage.

This communication contains forward-looking statements, and readers are urged to consider the inherent risks and uncertainties associated with such statements. Altair Engineering will continue to provide updates as necessary, and shareholders are advised to monitor future disclosures for further insights into the proposed transaction.

Please note that this article is a summary and does not constitute an offer to buy or sell securities. It is for informational purposes only, and readers are encouraged to conduct their own due diligence before making investment decisions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Altair Engineering’s 8K filing here.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.