News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Symyx Technologies, Inc. (SMMX) Board of Directors Rejects Certara Corporation’s "Best and Final" Proposal


6/29/2010 8:04:39 AM

SANTA CLARA, Calif.--(BUSINESS WIRE)--Symyx Technologies, Inc. (NASDAQ: SMMX) announced that its board of directors determined today that the June 28, 2010 “best and final” proposal received from Certara Corporation, Tripos International and Pharsight Corporation (collectively referred to as “Certara”) and Vector Capital (“Vector”) (collectively the “Certara/Vector proposal”) to acquire all of the outstanding capital stock of Symyx for $5.75 per share in cash, continues not to constitute a Company Superior Offer as defined in the Symyx merger agreement dated April 5, 2010 with Accelrys, Inc. (NASDAQ: ACCL), would not reasonably be expected to result in a Company Superior Offer and is not in the best interests of Symyx stockholders. The Board noted that Certara/Vector’s “best and final” proposal is not materially different from the modified Certara/Vector proposal it reviewed and rejected on June 24, 2010.

Read at BioSpace.com

comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES