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BUZZ-PTC falls after report says Autodesk no longer pursuing buyout

Reuters
07/14
BUZZ-PTC falls after report says Autodesk no longer pursuing buyout

** Software firm PTC's PTC.O shares fall 4.5% to $184.90; Autodesk shares ADSK.O rise 6.8% to $299.48 before the bell

** ADSK is no longer pursuing an acquisition of PTC, Bloomberg News reports, citing people familiar with the matter

** The software provider has decided to shelve its work on a potential cash-and-stock deal for PTC - report

** In a regulatory filing, Autodesk says it remains focused on executing its "strategic priorities," which also include "targeted and tuck-in acquisitions"

** As of last close, ADSK down ~5% and PTC up ~5%, this year

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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