Symyx Rejects One Offer For Another | June 28, 2010 Issue - Vol. 88 Issue 26 | Chemical & Engineering News
Volume 88 Issue 26 | p. 23 | Concentrates
Issue Date: June 28, 2010

Symyx Rejects One Offer For Another

Department: Business
Keywords: merger, scientific software

Scientific software firm Symyx Technologies has rejected a revised takeover offer from Certara. Symyx calls the new $5.75-per-share cash offer, down from $6.75 offered on May 24, inadequate. Instead, Symyx says it will go ahead with its April deal to merge with Accelrys (C&EN, April 12, page 6). In response, Certara has made public a letter to Symyx, which indicates that its latest offer represents a premium to the Accelrys transaction, based on the recent value of Accelrys’ stock. Pending shareholder approval, the Symyx and Accelrys merger is scheduled to close in July.

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