Arcadia Capital Sends Letter to Accelrys (ACCL); Urges a Special Dividend or Stock Buyback to Return Value to Shareholders

Arcadia Capital Advisors, LLC, a shareholder of Accelrys, Inc., (Nasdaq: ACCL), announced that they have sent a letter to the Accelrys Board which urges the Company to return value to their shareholders through a special one-time dividend, or a stock buyback. Arcadia noted on the letter that ACCL has excess cash on the balance sheet, which they believe would be better spent in shareholder hands rather than in M&A. Arcadia's letter also pointed out that former Symyx shareholders and current Accelrys shareholders should be rewarded for their patience in light of the recent stock performance relative to market indexes after the completion of the merger. Shares of ACCL are trading 1.15% lower today, though the stock has gained about 18% since the start of 2010.... Read more