02:44 PM EDT, 10/29/2024 (MT Newswires) -- Altair Engineering ( ALTR ) shares were up more than 8% Tuesday afternoon after Bloomberg reported that German automation equipment company Siemens is close to a deal to acquire the software firm.

The deal, which would be Siemens' largest transaction ever, could be announced as soon as Wednesday, people familiar with the matter said.

Representatives for Altair and Siemens did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 110.44, Change: +8.44, Percent Change: +8.27