8-KOther Events

SYNOPSYS INC 8-K Report (Mar 5, 2003)

Filed March 5, 2003For Securities:SNPS

Summary

Synopsys Inc. (SNPS) has officially announced the completion of its acquisition of Numerical Technologies, Inc. (Numerical) via a merger. This transaction, which occurred on March 1, 2003, follows Synopsys' earlier successful tender offer where it acquired approximately 90.71% of Numerical's outstanding shares for $7.00 per share in cash. The merger finalized the acquisition, making Numerical a wholly owned subsidiary of Synopsys. Consequently, Numerical's common stock has ceased trading on the Nasdaq Stock Market. This acquisition is a significant strategic move for Synopsys, aiming to integrate Numerical's technology and operations into its own. Investors should note that all remaining Numerical shareholders are receiving the same $7.00 per share cash consideration, ensuring a complete and orderly transition. The company issued a press release on March 3, 2003, detailing the completion of this significant corporate event.

Key Highlights

  • 1Synopsys Inc. has completed the acquisition of Numerical Technologies, Inc. through a merger, finalized on March 1, 2003.
  • 2The acquisition followed a tender offer where Synopsys secured over 90.71% of Numerical's shares.
  • 3All remaining Numerical shareholders are receiving $7.00 per share in cash, the same price as in the tender offer.
  • 4Numerical Technologies, Inc. is now a wholly owned subsidiary of Synopsys Inc.
  • 5Following the merger, Numerical's common stock has ceased trading on the Nasdaq Stock Market.
  • 6A press release announcing the completion of the acquisition was issued on March 3, 2003.

Frequently Asked Questions

The main event is the completion of Synopsys Inc.'s acquisition of Numerical Technologies, Inc. through a merger.

Synopsys paid $7.00 per share in cash for Numerical Technologies, Inc. shares. This price was offered in the initial tender offer and is being provided to all remaining shareholders through the merger.

Numerical Technologies, Inc.'s common stock has ceased trading on the Nasdaq Stock Market as it is now a wholly owned subsidiary of Synopsys Inc.

The acquisition was completed via a merger on March 1, 2003, with the reporting date of the earliest event being March 1, 2003, and the filing date on March 4, 2003.