March 5 (Reuters) - Cadence Design Systems Inc ( CDNS ):

* CADENCE DESIGN SYSTEMS INC ( CDNS ): CADENCE WILL PAY APPROXIMATELY

$1.24

BILLION FOR TRANSACTION

* CADENCE TO ACQUIRE BETA CAE, EXPANDING INTO STRUCTURAL

ANALYSIS

* CADENCE DESIGN SYSTEMS ( CDNS ) - IN CONJUNCTION WITH TRANSACTION,

EXPECTS TO OBTAIN NEW DEBT FINANCING TO FUND PORTION OF CASH

COMPONENT OF PURCHASE PRICE

* CADENCE DESIGN SYSTEMS ( CDNS ): 60% OF DEAL CONSIDERATION TO BE

PAID IN

CASH, 40% THROUGH ISSUANCE OF CO'S COMMON STOCK TO CURRENT BETA

CAE SHAREHOLDERS

* CADENCE DESIGN SYSTEMS INC ( CDNS ): PLANS TO USE FREE CASH FLOW

GENERATED BY ITS EXISTING OPERATIONS TO RAPIDLY PAY DOWN DEBT

INCURRED TO FUND TRANSACTION

* CADENCE DESIGN SYSTEMS INC ( CDNS ) - ACQUISITION IS EXPECTED TO

CLOSE IN

Q2 OF 2024

* CADENCE DESIGN SYSTEMS INC ( CDNS ): EXPECTS DEAL TO BE ABOUT 12

CENTS

DILUTIVE TO ITS 2024 EARNINGS PER SHARE AND TO BECOME ACCRETIVE

IN 2025

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