Synopsys, Ansys deal may face China delay due to new US export curbs, Berenberg says

Chip design software firm Synopsys' SNPS.O $35 bln cash-and-stock deal to buy simulation software company Ansys ANSS.O could possibly be delayed or blocked by China's State Administration for Market Regulation, Berenberg says

Brokerage says it thinks SNPS could miss its stated target of closing the transaction in the first half of 2025

SNPS and its rival Cadence Design Systems CDNS.O say they both received letters from U.S. Department of Commerce's Bureau of Industry and Security regarding new export curbs on sales to China

In response, SNPS suspends its quarterly and annual forecasts as it evaluates potential effects of the restrictions

Avg rating of 21 brokerages covering SNPS is "buy" and their median PT is $592.50, according to LSEG-compiled data

As of last close, SNPS down ~6%, ANSS down ~3%, this year