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Mentor Increases Bid to Win Flomerics |
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Written by Kathy Nargi-Toth
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Wednesday, 02 July 2008 |
WILSONVILLE, OR – Mentor Graphics increased its bid for Flomerics to about $2.43 per share, or $60 million based on outstanding shares to close the deal.
The new offer was accepted by the Flomerics board.
The original bid was about $2.07 per share, or about $47.1 million. The $60 million purchase price represents about a 35% premium over the trading price on May 8, the day Mentor made the initial offer. Its a 17% increase over the initial offer.
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