Why Shares in Simulation Plus Soared Today
Shareholders woke up to the idea that their company will have a new owner by the end of the year.
Why Shares in Simulation Plus Soared Today
Overview
Shares in Simulations Plus (NASDAQ: SLP) were higher by 11.65% at 11:45 a.m today as the market digested the news of a definitive agreement to be acquired by investment company Altaris for $18.50 a share, "representing a premium of 26% to Simulations Plus' 60-day volume-weighted average price as of June 15, 2026," according to the press release.
At the time of writing, the shares trade at around $18.20, representing a single-digit percentage discount to the agreed acquisition price. This reflects the intended transaction date of the fourth quarter of this year, and the perception that there won't be a bidding war for the company.
Details
Indeed, the press release noted that the all-cash transaction was unanimously approved by Simulations Plus' board of directors, subject to customary provisions, including shareholder and regulatory approvals.
Source
Originally published at www.fool.com.
