Termination of SIMPLE IRA after acquistion

[WCC]

I have found a few old threads on this topic but want to clarify the termination of a SIMPLE IRA.

Company A maintains a SIMPLE IRA. Company B acquires Company A in a stock purchase effective February 1, 2016. Company B maintains a 401k plan.

Question: Can the SIMPLE IRA be terminated mid-year? Based on what I have read I don't believe it can be terminated until December 31, 2016. Does anyone disagree? Is there anything that I may be missing that would allow us to terminate it?

Thank you