Tuesday, February 22, 2011

Mentor Graphics Gets Buyout Bid From Carl Icahn

Wilsonville, Oregon-based Mentor Graphics Corp. said today that it has received an unsolicited, conditional proposal from Carl Icahn to acquire the firm for $17.00 per share, or roughly $1.73 billion. According to Mentor, the firm's board will be reviewing the proposal, but did not recommend any action to its shareholders. Mentor Graphics is a developer of electronic design autmoation software and hardware, used in the semiconductor, electronics, and systems markets. The offer is above Mentor's Friday close of $14.52 per share. Icahn has been accumulating shares of Mentor for the last nine months.