MSC Software enters agreement with Elliott Associates

By Lisa Kerner

Charlotte, N.C., Feb. 12 - MSC Software Corp. said Elliott Associates, LP and some of its affiliates agreed not to acquire more than 2,963,908 shares of the company's stock without board approval until June 30.

Elliott, under its agreement with MSC, will not nominate individuals for election to MSC's board or seek proxies for the election or appointment of individuals to the board, according to a schedule 13D/A filed with the Securities and Exchange Commission.

In addition, Elliot will not propose any extraordinary transaction such as a tender or exchange offer to acquire shares of MSC common stock, the filing said.

Elliott is not prohibited from making a private proposal to MSC or its board regarding a possible acquisition or from discussing such a transaction with third parties.

The Elliot investors beneficially own 6,060,058 shares, or 13.4%, of the Santa Ana, Calif., simulation software company.

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