Mentor Graphics Rejects Icahn's $1.9B Buyout Offer

Law360, New York (March 28, 2011, 1:43 PM EDT) -- Mentor Graphics Corp.'s board unanimously rejected a $17-per-share bid by financier Carl Icahn because the offer, which values the Oregon-based hardware and software design solutions business at $1.9 billion, is too low, the company said Monday.

The board also determined that Icahn’s suggestion that Mentor Graphics should put itself up for sale to a strategic buyer entails significant commercial and regulatory risk and therefore is not in the best interests of shareholders, the company said.

A request for comment from Icahn was not immediately returned Monday....
To view the full article, register now.