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Symyx Technologies, Inc. (SMMX) Board of Directors Concludes Modified Proposal from Certara Corporation Does Not Constitute a Company Superior Offer
6/25/2010 10:33:59 AM
SANTA CLARA, Calif.--(BUSINESS WIRE)--Symyx Technologies, Inc. (NASDAQ: SMMX) today announced that in a June 24, 2010 meeting its board of directors determined that the modified proposal received on June 23, 2010 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, does not constitute a Company Superior Offer as defined in the Symyx merger agreement dated April 5, 2010 with Accelrys, Inc. (NASDAQ: ACCL) (the “Accelrys Agreement”), would not reasonably be expected to result in a Company Superior Offer and is not in the best interests of Symyx stockholders.
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