Cadence to acquire Hexagon design & engineering unit for €2.70B

CADENCE DESIGN SYSTEMS INC

Enterprise value of €2.70B; €1.89B in cash plus ~€810M in Cadence common stock.
Stock consideration based on 20-day VWAP of Cadence stock prior to close, converted to euro.
Closing expected in Q1 2026, subject to antitrust and foreign investment approvals.
Reverse termination fee of up to €175M payable if deal blocked by regulators.
Cash consideration to be funded from cash on hand and existing debt facilities.

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