WASHINGTON (dpa-AFX) - Synopsys (SNPS) has received final regulatory approval from China's State Administration for Market Regulation to proceed with its $35 billion acquisition of Ansys.
This approval removes the last major hurdle for the deal, which is expected to close around Thursday.
Chinese regulators approved the transaction with conditions, including that the merged company must maintain existing contracts with Chinese clients. The deal had faced delays amid U.S.-China tensions over technology exports. A resolution came earlier this month when the U.S. eased export rules for chip design and engineering software to China. Regulatory bodies in the U.S. and EU had previously cleared the deal.
Announced in January 2024, the acquisition builds on a seven-year partnership between the two firms. Synopsys CEO Sassine Ghazi previously stated that the merger would create a unified solution from silicon to systems, enhancing innovation for R&D teams across industries.
Under the agreement, Ansys shareholders will receive $197 in cash and 0.3450 shares of Synopsys for each Ansys share. Following the news, Ansys stock rose 4%, nearing its all-time high, while Synopsys shares remained steady and are up 16% year-to-date.
SNPS currently trades at $551.24 or 1.44% lower on the NasdaqGS.
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