Product category: Design and Development Software
News Release from: Mentor Graphics UK
Edited by the Electronicstalk Editorial Team on 20 May 2002
Progress for Mentor
in Innoveda acquisition
Mentor Graphics has received early termination of the waiting period required under the Hart-Scott-Rodino Act in connection with its proposed acquisition of Innoveda
Related stories
Mentor closes in on Innoveda acquisition
Mentor Graphics has completed its cash tender offer for the shares of common stock of Innoveda at a price of $3.95 per share
Mentor to acquire Innoveda
Mentor Graphics and Innoveda have signed a definitive merger agreement providing for Mentor Graphics to acquire all the outstanding shares of Innoveda
Mentor Graphics has revealed that on 16th May 2002, it received early termination of the waiting period required under the Hart-Scott-Rodino Act in connection with the previously announced proposed acquisition of Innoveda. Pursuant to an all cash tender offer, Mentor Graphics is offering to acquire Innoveda for $3.95 in cash per share of Innoveda common stock.
Mentor Graphics' offer is scheduled to expire at 12:00 midnight, New York City time on Tuesday 28th May 2002, unless extended.
As of the close of business on 16th April 2002, 21,318,914 shares of Innoveda common stock had been validly tendered into the offer, which represents approximately 43.5% of Innoveda's outstanding common stock on a fully diluted basis (based on 49,022,122 shares outstanding as of 23rd April 2002).
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