News Release from: Mentor Graphics UK
Edited by the Electronicstalk Editorial Team on 7 June 2002

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.

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Mentor Graphics has completed its cash tender offer for the shares of common stock of Innoveda at a price of $3.95 per share. The tender offer expired at 12:00 midnight New York City time on 28th May 2002. Based on preliminary information from the depositary for the offer, Innoveda stockholders had validly tendered and not withdrawn 39,517,200 shares of Innoveda common stock during the tender offer, which represents approximately 94.4% of Innoveda's outstanding common stock.

Mentor intends to acquire the remaining shares of Innoveda common stock through a short-form merger in which all remaining Innoveda stockholders who did not tender their shares in the tender offer will receive the same $3.95 per share in cash paid in the tender offer.

Stockholders will receive information in the mail on how to receive payment for their shares.

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