Symyx Shares Fall after Ending Talks with Possible Buyer

Shares of Symyx Technologies fell 14% Wednesday, a day after the company said it ended talks with Certara, which revoked its offer to buy the scientific research provider for $6.75 a share.

Earlier this month, Symyx agreed to provide information about itself and help Certara, the parent of certain scientific software makers, and its private equity sponsor Vector Capital, with the due diligence process.

Before it received Certara's offer, the company had agreed to merge with Accelrys Inc in a stock deal, which valued Symyx at a little more than $5 a share, or about $175 million. After the merger, each company would own about 50% of the combined entity.

In a regulatory filing on Tuesday, Symyx posted Certara's letter, which said it could offer a substantial cash premium over Accelrys' offer, but not $6.75 a share.

Symyx said it does not have a superior offer under consideration.