Altaris Completes $375M Acquisition of Simulations Plus; Stock to Delist
SLP sits 67% above its 52-week low of $11.09 on elevated volume (2.1× avg).
Summary
Altaris completed its $375 million all-cash acquisition of Simulations Plus at $18.50 per share, as originally announced in June. The company is now privately held and will delist from Nasdaq. Simulations Plus will be combined with Chemical Computing Group, an Altaris portfolio company, to create a broader drug discovery and modeling platform. This follows the HSR clearance in August and the definitive proxy in July. The deal closes at the announced terms, so no price change is expected, but the delisting and integration with CCG mark the final step in the transaction.
At the time of this announcement, SLP was trading at $18.49 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $374.2M. The 52-week trading range was $11.09 to $21.01. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.