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Mentor Rejects Cadence Bid

Published: 17 June 2008
 by Staff
WILSONVILLE, OR -- Mentor Graphics confirmed that it previously rejected the unsolicited proposal by Cadence Design to acquire Mentor at a price of $16.00 per share.

"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."
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