Proxy Advisory Firm RiskMetrics Group Recommends Symyx Stockholders Vote “FOR” Proposed Merger With Accelrys
Symyx Technologies, Inc. (NASDAQ: SMMX) (“Symyx”) today announced that RiskMetrics Group’s ISS Proxy Advisory Services (“ISS”) recommends that Symyx’s stockholders vote “FOR” the proposed merger with Accelrys, Inc. (NASDAQ: ACCL) (“Accelrys”) at the company’s June 30, 2010 Special Meeting of Stockholders. Stockholders of record as of the close of business on May 14, 2010 will be entitled to vote at the meeting.
“ISS’ recommendation reaffirms our belief that there are significant strategic merits to the proposed merger with Accelrys and that Symyx stockholders should vote “FOR” the merger at our upcoming Special Meeting,” said Isy Goldwasser, Chief Executive Officer of Symyx. “Symyx’s board of directors, with the assistance of outside legal and financial advisors, conducted an extensive and thorough review of the proposed merger with Accelrys and believes it is in the best interests of Symyx and all of its stockholders. The merger of our two companies would create an industry-leading informatics software company, with minimal product overlap and a diversified, global customer base. We look forward to closing the transaction and urge Symyx stockholders to vote “FOR” the proposed merger with Accelrys today.”
As announced on April 5, 2010, under the terms of the merger agreement with Accelrys, Symyx shareholders will receive 0.7802 of a share of Accelrys common stock for each share of Symyx they own. Following the completion of the merger, Accelrys and Symyx shareholders will each own approximately 50 percent of the combined company. The merger, structured as a tax-free, all-stock merger of equals, was approved by both companies’ boards of directors and is scheduled to close in the beginning of July 2010, subject to stockholder approval and customary closing conditions.
Stockholders are encouraged to read the joint proxy statement/prospectus filed by Symyx and Accelrys on May 19, 2010 in its entirety, as it provides, among other things, a detailed discussion of the process that led to the proposed merger and the reasons behind the Symyx’s board of directors’ recommendation that stockholders vote “FOR” the proposed merger with Accelrys. Stockholders may obtain free copies of this and other documents filed with the SEC free at the SEC’s website www.sec.gov.Symyx’s Special Meeting of Stockholders will be held on Wednesday, June 30, 2010 at 10 a.m. PT at 2440 Camino Ramon, Suite 300, San Ramon, California 94583. Whether or not stockholders are able to attend the Special Meeting in person, the board urges stockholders to vote “FOR” the transaction by signing and dating and returning their proxy cards. Internet and telephone voting options are also available and easy to follow instructions may be found in the proxy. Even if stockholders have already voted against the transaction, they can still change their vote. Only the latest dated proxy counts. Stockholders who have questions about the merger, need assistance submitting their proxy or voting their shares should contact the Company's proxy solicitor, MacKenzie Partners, toll-free at (800) 322-2885.
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