03:02 PM EDT, 10/29/2024 (MT Newswires) -- (Updates with Altair executive's remarks in the last paragraph.)

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.

Amy Messano, chief marketing officer at Altair, told MT Newswires in an email message that the company does not comment on rumor or speculation. Siemens did not immediately respond to a request from MT Newswires seeking comment.

(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.)

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