SANTA ANA, Calif – MSC.Software Corporation announced today the postponement of the special meeting of stockholders originally scheduled for September 30, 2009. The purpose of the special meeting is, among other things, to consider and vote on a proposal to adopt the Agreement and Plan of Merger among MSC, Maximus Holdings Inc., a wholly-owned subsidiary of Symphony Technology Group (“Symphony”), and Maximus Inc. (the “Symphony Agreement”).
As previously announced, on September 21, 2009, the MSC Board of Directors received an offer to acquire MSC for $8.30 per share in cash by private equity firms (the “New Offer”), which the MSC Board determined to be a Superior Proposal (as defined in the Symphony Agreement). MSC provided notice on September 21, 2009 to Symphony of the MSC Board’s determination that the New Offer constitutes a Superior Proposal and of its intention to terminate the Symphony Agreement and enter into a binding written definitive agreement concerning the New Offer after the expiration of the five business day notice period ending Monday, September 28, 2009 specified in the Symphony Agreement. Under the Symphony Agreement, Symphony has the right to make a responsive offer prior to the expiration of such five business day-period, and MSC may terminate the Symphony Agreement only if the MSC Board of Directors determines in good faith, after consultation with its financial advisors and outside legal counsel, that the New Offer continues to be a Superior Proposal in light of any responsive offer.
MSC will announce a new meeting date once the transaction terms are finalized and revised documentation is executed."
- Tire maker Michelin develops FEA post-processing tools using MeshViz XLM and Open Inventor® by VSG
- FARO and Autodesk Collaborate to Add Support for Point Cloud Data to AutoCAD 2011
- Delcam presented with sixth Queen's Award
- Spatial Announces Registration Open for 3D Insiders' Summit 2011
- Official Thinkdesign 2011 Beta version Entering into the Build Phase - Ready for Imminent Release
- MSC Software and Sigmadyne Announce New Capabilities for Optimization of Optical Systems
- Materialise Innovation Forum Major Success
- COMET robot machining consortium meets at Fraunhofer
- Autodesk Acquires T-Splines Modeling Technology Assets
- Two Indian SolidWorks resellers add Sescoi's WorkNC to their portfolio