Wednesday, July 8, 2009

MSC.Software Gets $360M Acquisition Offer

Santa Ana-based MSC.Software, a developer of simulation and design software, has received a $360M acquisition offer from a group of private equity investors. According to Symphony Technology Group (STG) and Elliot Management Corp., the two have entered into a definitive agreement to acquire all of MSC. Software's outstanding shares in an all-cash, merger transaction. The two firms said they would pay $7.63 in cash for each share of MSC common stock to acquire MSC, which thefirms said is a approximately 13% premium to the closing price for MSC. The acquisition requires stockholder approval, with MSC saying that it had a commitment from 14% of the outstanding shares of MSC to vote for the transaction. The firms expect the transaction will close in the third quarter.