Stockholders Approve Accelrys and Symyx Merger
The Associated Press valued Accelrys’s offer of 0.7802 shares of common stock for each share of Symyx at $5 per share. Symyx repeatedly stated that its Board had rejected Certara’s offer in view of the price offered in comparison to the terms and long-time value.
Santa Clara, CA and San Diego, CA 6/30/10—Accelrys stockholders and stockholders in Symyx Technologies have approved the companies’ merger (see IBO 4/15/10). Each companies’ stockholders will own half of the combined company. Leading up to the shareholders vote on June 30, Symyx fielded repeated counter offers from Certara, which is owned by Vector Capital (see IBO 5/31/10, 6/15/10). Since June 15, Certara made three more offers to purchase Symyx for $5.75 per share. Symyx rejected all three offers citing inadequate financial consideration and material issues.
