NEW YORK (GenomeWeb News) – Certara today issued a letter to Symyx's board revising its offer to acquire the company and removing any doubt that its offer provides certainty of closure.
In its letter, Certara confirms its bid of $5.75 per share in cash originally made to Symyx last week. In addition, Certara said the offer is irrevocable and effective immediately; "empowers the Symyx [board] to accept the offer and legally bind Certara once the Accelrys merger has been terminated;" is contained in a signed merger agreement; and is guaranteed by Vector Capital, Certara's private equity backer.
The revised offer "should remove any doubt in the minds of you or the Symyx stockholders that our proposal provides certainty of closure," Certara said in the letter.
Earlier this week, Symyx rejected Certara's offer, saying it did not represent a superior offer to an earlier bid by Accelerys. Symyx also said that Certara's offer does not provide "sufficient certainty to closure necessary to protect Symyx stockholders."