Tuesday, September 29, 2009

MSC Software Gets Revised Offer From Symphony

The bidding war for Santa Ana-based MSC.Software continues, with the firm saying today that Symphony Technology Group has increased its purchase price to $8.40 per share in cash for the firm. The upped offer comes after a offer of $8.30 per share in cash for the firm from a group of third-party private equity firms. The firms have been locked into a bidding war for MSC.Software since July. The new $8.40 per share offer is worth around $382.7M. MSC said it has rescheduled a special shareholder meeting for October 9 to consider the deal.

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