UK Competition Regulator Clears $35 Bln Synopsys, Ansys Merger Deal

(RTTNews) - The Competition and Markets Authority of UK has cleared the deal regarding acquisition of Ansys, Inc. (ANSS) by Synopsys, Inc. (SNPS) for a consideration of $35 billion.

The competition regulator stated that it considers the undertakings "are appropriate to remedy, mitigate or prevent the substantial lessening of competition, or any adverse effect which may be expected to result from it, as specified in the Decision."

The CMA further added that it would not recommend an in-depth phase 2 probe into the proposed merger deal. Earlier, the anti-trust watchdog said that the deal could affect innovation in the sector, and trigger price rise. However, it advised that if the companies could address these concerns, the deal could be approved.

In the pre-market hours, Synopsys's stock is trading at $447, up 0.34 percent, and Ansys's stock is trading at $324.22, up 0.31 percent on the Nasdaq.