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.