8-KAcquisitions & Dispositions

SYNOPSYS INC 8-K Report, Acquisition Completed (Oct 2, 2012)

Filed October 2, 2012For Securities:SNPS

Summary

This 8-K filing announces the successful completion of Synopsys Inc.'s (SNPS) cash tender offer for SpringSoft, Inc. The offer, which commenced on August 3, 2012, saw Synopsys Taiwan Ltd., a wholly-owned subsidiary, acquire approximately 91.64% of SpringSoft's outstanding shares for NT$57.00 per share. The total consideration paid for these tendered shares was NT$10,935,144,309. The completion of this tender offer is a significant step towards Synopsys's full acquisition of SpringSoft. The company intends to proceed with a follow-on merger, through which any remaining outstanding shares of SpringSoft will be cancelled and converted into the right to receive the same NT$57.00 per share. This transaction is expected to be accretive to Synopsys's strategic goals in the semiconductor design sector.

Key Highlights

  • 1Synopsys Inc. subsidiary completed a cash tender offer for SpringSoft, Inc. on October 1, 2012.
  • 2Approximately 91.64% of SpringSoft's outstanding shares were acquired.
  • 3The tender offer price was NT$57.00 per share.
  • 4Total consideration paid for tendered shares amounted to NT$10,935,144,309.
  • 5Synopsys Taiwan Ltd. will proceed with a follow-on merger to acquire remaining SpringSoft shares.
  • 6The acquisition is positioned as a key strategic move for Synopsys.

Frequently Asked Questions

The main event reported is the successful completion of Synopsys Inc.'s cash tender offer for SpringSoft, Inc., through its subsidiary Synopsys Taiwan Ltd. This marks a significant step in the acquisition process.

Synopsys acquired approximately 91.64% of SpringSoft's outstanding shares through the cash tender offer.

The cash tender offer price was NT$57.00 per share for all outstanding shares of SpringSoft common stock.

Following the successful tender offer, Synopsys intends to conduct a follow-on merger to acquire the remaining outstanding shares of SpringSoft. These shares will be cancelled and converted into the right to receive NT$57.00 per share.