ACCL Stock – Accelrys Shares Skyrocket on Dassault Deal

The acquisition is expected to be completed in the second quarter

   

News that 3D engineering software-maker Accelrys (ACCL) will be purchased by France’s Dassault Systemes sent ACCL stock vaulting more than 28% in Monday premarket trading.

business handshake 630 300x199 ACCL Stock   Accelrys Shares Skyrocket on Dassault Deal
Source: Flickr

Under the deal, Dassault will make a tender offer for Accelrys, paying $12.50 per share of ACCL stock. That represents a premium of 29% over the $9.72 per share closing price for ACCL stock on Wednesday. Accelrys has about 2,000 customers, including major drug manufacturers Pfrizer (PFE) and Sanofi (SAN), Bloomberg notes.

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The acquisition must be approved by owners of ACCL stock, but is expected to close during the second quarter.

Dassault will pay a total of $750 million to purchase all outstanding ACCL stock.

Prior to the announcement of the merger, ACCL stock had gained about 5% over the past 12 months.

 


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/accl-stock-accelrys-shares-skyrocket-dassault-deal/.

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