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Technology Stocks : Accelrys, Inc.

ACCL 3.150

-0.9%

Dec 23 3:58 PM EST

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From: Glenn Petersen	5/27/2010 2:03:47 PM
	of 89

An unnamed party has made a bid for SMMX: UPDATE 1-Symyx Technologies says gets revised $6.75/shr bid Thu May 27, 2010 May 27 (Reuters) - Symyx Technologies Inc (SMMX.O), a scientific research provider, said it received a revised bid of $6.75 a share from an unnamed competitor, but termed it as not a superior offer. "However, ... the revised proposal constituted a proposal that would reasonably be expected to result in a superior offer and ... Symyx would engage in discussions with the competitor," Symyx said in a statement. Shares of the company, whose software and database help research and development in various sectors, rose 8 percent in morning trade Thursday on Nasdaq. The revised bid offers a premium of 14 percent to the stock's closing price Wednesday and values the company at about $235.6 million, based on 34.9 million shares outstanding as of April 30. The revised offer comes on the heels of a May 9 offer of $6.25 per share, which Symyx's board had deemed inadequate. Scientific software company Accelrys Inc (ACCL.O) and Symyx signed a merger agreement on April 5, according to which a unit of Accelrys will merge with Symyx and Symyx will become a unit of Accelrys. Symyx shares were up 43 cents at $6.35 in morning trade on Nasdaq. (Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Gopakumar Warrier) reuters.com

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