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.