Ansoft sets July 23 as meeting date for merger vote

By Lisa Kerner

Charlotte, N.C., June 23 - Ansoft Corp. set July 23 as the meeting date for its shareholders to vote on the company's proposed merger with Ansys, Inc., a company news release said.

Ansys agreed to acquire Ansoft in a cash and stock deal valued at $832 million, it was previously reported.

Under the Pittsburgh-based companies' agreement, Ansoft stockholders will receive $16.25 cash and 0.431882 of a share of Ansys common stock per Ansoft share, or a total consideration of some $32.50 per Ansoft share.

Ansys will issue 11.1 million shares and pay an estimated $416 million in cash in the transaction, a prior news release stated.

Ansoft develops electronic design automation software, and Ansys markets engineering simulation software and technologies.

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