SNPS Stock Alert: The $35 Billion Reason Synopsys Stock Is Up Today
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- January 16, 2024
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Synopsys (NASDAQ: SNPS ) stock is heading higher on Tuesday following news of a massive deal with Ansys (NASDAQ: ANSS ). This deal will see the two companies combine to create a leader in the silicone to systems design solutions space. That will have Synopsys spending $35 billion to acquire Ansys. Synopsys will use a mix of cash and stock to acquire Ansys.
The company will pay $197 and .3450 shares of SNPS stock for each share of ANSS stock. This represents a value of $390.19 per share based on closing prices on Dec. 21, the last day of trading before reports of the deal spread. Sassine Ghazi, president and CEO of Synopsys, said the following about the deal.
Details of the SNPS and ANSS Stock Deal Synopsys says that it intends to fuel the $19 billion cash part of the offering with cash on hand and debt financing. The company also notes it has obtained $16 billion of fully committed debt financing. Synopsys and Ansys are expecting the deal to close in the first half of 2025.
First, it has to get approval from regulators as well as shareholders of ANSS stock. SNPS stock is up 3.4% and ANSS stock is down 4.1% as of Tuesday morning. Investors searching for more of the latest stock market stories are in the right place! We are offering up all of the most recent stock market coverage traders need to know about on Tuesday! Among that is what has Digital World Acquisition (NASDAQ: DWAC ), Ault Alliance (NYSEMKT: AULT ) and Srivaru (NASDAQ: SVMH ) stock moving today.
You can catch up on all of this news below! More Tuesday Stock Market News Digital World (DWAC) Stock Pops as Trump Wins Iowa Caucuses Why Is Ault Alliance (AULT) Stock Down 19% Today? Why Is Srivaru (SVMH) Stock Down 18% Today? On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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