by Christopher Freeburn | January 30, 2014 9:15 am
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.
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.
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.
Source URL: http://investorplace.com/2014/01/accl-stock-accelrys-shares-skyrocket-dassault-deal/
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