Friday, October 9, 2009

MSC.Software Gets Approval On Acquisition

The long, drawn out bidding war for Santa Ana-based MSC.Software appears to be at a close today, as MSC reported that a majority of its shares have been voted to adopt the firm's latest merger offer from Maximus Holdings Inc. and Maximus Inc., worth $8.40 per share in cash for each share of the firm's common stock. The firm, which develops simulation and design software, announced that it expects to close the transaction next Tuesday, October 13th. The approval comes after several rounds of bidding between Maximus and a group of un-named private equity buyers. That bidding war boosted the firm's initial acquisition price from $7.63 per share -- or roughly $360M -- to $8.40 per share, or almost $400M.