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MSC.Software postpones special meeting in light of equity firms' offer
By Lisa Kerner
Charlotte, N.C., Sept. 23 - MSC.Software Corp. postponed its special meeting of stockholders scheduled for Sept. 30. No new meeting date has been set.
At the meeting, shareholders were to vote on a plan of merger between MSC, Maximus Holdings Inc., a wholly owned subsidiary of Symphony Technology Group, and Maximus Inc., an MSC news release said.
MSC agreed in July to be acquired by Symphony for $7.63 per share.
Since then, a group of unnamed third-party equity firms have topped that offer twice, most recently on Monday with a $8.30-per-share offer for MSC.
The latest offer has been deemed by MSC's board to be superior to Symphony's revised offer of $8.15 per share made last week.
Symphony, a Palo Alto, Calif., strategic private equity firm, has until Monday to respond to the $8.30-per-share offer.
MSC is a Santa Ana, Calif., simulation software company.
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