Symyx Technologies, Inc. Board Of Directors Rejects Certara Corporation’s “Best And Final” Proposal
Symyx Technologies, Inc. (NASDAQ: SMMX) announced that its board of directors determined today that the June 28, 2010 “best and final” proposal received from Certara Corporation, Tripos International and Pharsight Corporation (collectively referred to as “Certara”) and Vector Capital (“Vector”) (collectively the “Certara/Vector proposal”) to acquire all of the outstanding capital stock of Symyx for $5.75 per share in cash, continues not to constitute a Company Superior Offer as defined in the Symyx merger agreement dated April 5, 2010 with Accelrys, Inc. (NASDAQ: ACCL), would not reasonably be expected to result in a Company Superior Offer and is not in the best interests of Symyx stockholders. The Board noted that Certara/Vector’s “best and final” proposal is not materially different from the modified Certara/Vector proposal it reviewed and rejected on June 24, 2010.
Symyx continues to recommend Symyx stockholders vote “FOR” the adoption of the merger agreement with Accelrys.
The merger with Accelrys is scheduled to close in the beginning of July 2010, subject to stockholder approval and customary closing conditions. Stockholders of record as of the close of business on May 14, 2010 will be entitled to vote at the meeting.
UBS Investment Bank is acting as financial advisor to Symyx and Cooley LLP is acting as Symyx’s legal advisor.
If stockholders have any questions or need additional copies of Symyx’s materials, please call MacKenzie Partners today at the phone numbers listed below.
MacKenzie Partners, Inc.
|105 Madison Avenue|
|New York, NY 10016|
TOLL-FREE (800) 322-2885
CALL COLLECT (212) 929 5500
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