If it’s Tuesday, then there must be a new offer in the ongoing bidding war for Santa Ana’s MSC.Software Corp.
An undisclosed group of private equity firms has upped its offer for the maker of industrial simulation software, according to MSC.
The group now is offering $367 million for MSC, topping the latest $361 million offer from Palo Alto-based private equity firm, Symphony Technology Group LLC.
The two private equity suitors have been trading offers for MSC for most of this month, after Symphony in July first offered $338 million to buy MSC.
Since Sept. 9, the two suitors have made five higher offers between them for MSC.
MSC hasn’t disclosed the names of the private equity firms behind the counter offers. It said it will do so if it enters into an acquisition agreement with the group.
Symphony has five days to up its price or walk away after the latest offer, MSC said.
MSC makes simulation software used to test designs of prototypes for military, aerospace and industrial uses.
The company’s shares close up about 1% on a market value of $377 million, as the latest offers largely match a run-up seen since Symphony’s first offer a few months ago.
