San Diego, CA 7/9/2009 11:43:38 PM
MSC Software Downgraded After Buyout News - Analysis at SmallCapNetwork.com
A day after Symphony Technology agreed to acquire MSC Software Corp. (MSCS), Riley & Co. downgraded the stock to a 'neutral' stance.
MSC Software Corp. (MSCS) investors are celebrating recent news that Symphony Technology would like to acquire the company for $360 million. Shares jumped 10.9% after the announcement was made. Ironically (though understandably), a downgrade of MSC Software by B. Riley & Co. followed.
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Though the Riley downgrade of MSC Software may superficially be attributed to the fact that the stock's price has essentially been pegged at $7.78 simply due to the buyout price, the Symphony acquisition may not necessarily be a foregone conclusion.
An investigation of MSC's board and the agreement with Symphony is being made by the Law Offices of Howard G. Smith. The investigation could possibly nullify the agreement, making the downgrade of MSC Software more appropriate than perhaps it was intended to be.
About MSC Software Corp.
MSC Software Corp. (MSCS) is a global leader of simulation solutions that help companies make money, save time and reduce costs associated with designing and testing manufactured products. MSC.Software works with thousands of companies in hundreds of industries to develop better products faster by utilizing information technology, software, services and systems. MSC.Software employs more than 1000 people around the world. For additional information about MSC.Software's products and services, please visit www.mscsoftware.com.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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