CIMdata PLM Industry Summary Online Archive

17 June 2008

Acquisitions

Mentor Graphics Responds to Proposal from Cadence Design Systems

Mentor Graphics Corporation today acknowledged receipt of an unsolicited proposal by Cadence Design Systems 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."

Become a member of the CIMdata PLM Community to receive your daily PLM news and much more.

Tell us what you think of the CIMdata Newsletter. Send your feedback.

CIMdata is committed to your privacy. Your personal information will never be sold or shared outside of CIMdata without your express permission.

Subscribe