Mentor Graphics Responds to Proposal from Cadence Design Systems
18 6월 2008 - 3:24AM
Business Wire
Mentor Graphics Corporation (Nasdaq: MENT) today acknowledged
receipt of an unsolicited proposal by Cadence Design Systems
(Nasdaq: CDNS) to acquire Mentor Graphics at a price of $16.00 per
share. Mentor Graphics confirmed that it previously rejected the
proposal. "As we recently indicated to Cadence, we reviewed
Cadence's proposal and analyzed both the price proposed and the
risks associated with obtaining antitrust approval for a
combination between the companies," said Walden C. Rhines, chairman
and CEO of Mentor Graphics. "Following this review, we concluded
that not only was the price insufficient to support a transaction
but that the risks of not gaining regulatory approval were
sufficiently high that the ability of the parties to consummate the
transaction would be in jeopardy. For these and other reasons, our
Board unanimously rejected the proposal." About Mentor Graphics
Mentor Graphics Corporation (Nasdaq: MENT) is a world leader in
electronic hardware and software design solutions, providing
products, consulting services and award-winning support for the
world's most successful electronics and semiconductor companies.
Established in 1981, the company reported revenues over the last 12
months of over $850 million and employs approximately 4,200 people
worldwide. Corporate headquarters are located at 8005 S.W. Boeckman
Road, Wilsonville, Oregon 97070-7777. World Wide Web site:
http://www.mentor.com/. Mentor Graphics is a trademark of Mentor
Graphics Corporation. All other company or product names are the
registered trademarks or trademarks of their respective owners.
Mentor Graphics Corporation (Nasdaq: MENT) today acknowledged
receipt of an unsolicited proposal by Cadence Design Systems
(Nasdaq: CDNS) to acquire Mentor Graphics at a price of $16.00 per
share.�Mentor Graphics confirmed that it previously rejected the
proposal. "As we recently indicated to Cadence, we reviewed
Cadence's proposal and analyzed both the price proposed and the
risks associated with obtaining antitrust approval for a
combination between the companies,� said Walden C. Rhines, chairman
and CEO of Mentor Graphics. "Following�this review, we concluded
that not only was the price insufficient to support a transaction
but that the risks of not gaining regulatory approval were
sufficiently high that the ability of the parties to consummate the
transaction�would be in jeopardy. For these and other reasons, our
Board unanimously rejected the proposal." About Mentor Graphics
Mentor Graphics Corporation (Nasdaq: MENT) is a world leader in
electronic hardware and software design solutions, providing
products, consulting services and award-winning support for the
world�s most successful electronics and semiconductor companies.
Established in 1981, the company reported revenues over the last 12
months of over $850 million and employs approximately 4,200 people
worldwide. Corporate headquarters are located at 8005 S.W. Boeckman
Road, Wilsonville, Oregon 97070-7777. World Wide Web site:
http://www.mentor.com/. Mentor Graphics is a trademark of Mentor
Graphics Corporation. All other company or product names are the
registered trademarks or trademarks of their respective owners.
Mentor Graphics Corp. (NASDAQ:MENT)
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