Mentor rejects $1.49B Cadence buyout offer

Mentor Graphics (www.mentor.com) rejected an unsolicited offer from Cadence Design Systems (www.cadence.com) to acquire Mentor at $16 per share, an offer valued at $1.49 billion.
June 19, 2008

Mentor Graphics rejected an unsolicited offer from Cadence Design Systems to acquire Mentor at $16 per share, an offer valued at $1.49 billion.

In a statement, Mentor chairman and CEO Walden C. Rhines called the offer price insufficient and added that the risks of not gaining regulatory approval were high.

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