Synopsys, Ansys rise after China regulator gives conditional approval for $35 billion buyout

Shares of chip design software provider Synopsys SNPS.O rise 4.1% to $582 premarket and engineering software maker Ansys' ANSS.O shares up 2.8% at $385

China's market regulator grants conditional approval for Synopsys' $35 billion buyout of peer Ansys

This clears a major hurdle for the deal, after back-and-forth over U.S. restrictions on export of electronic design automation tools to China had led to concerns over Chinese regulators blocking the deal in retaliation

The deal, which had already received merger clearance in every jurisdiction other than China prior to this, according to the companies, carries a deadline of July 15 for its closure with an option to extend until January next year

SNPS shares up ~15.2% YTD, ANSS up ~11% YTD