Ramtron Investor Challenges $110M Cypress Buyout

Law360, Wilmington (October 15, 2012, 8:06 PM EDT) -- A Ramtron International Corp. shareholder on Monday launched a class action aiming to block Cypress International Semiconductor Corp.'s proposed $110 million buyout of the chipmaker, saying the deal shortchanges investors.

The $3.10 per share offer is "grossly inadequate" and resulted from the Ramtron board bungling negotiations with Cypress over a lengthy courtship and then agreeing to a merger process that discouraged other bidders, according to a complaint filed by Paul Dent in Delaware Chancery Court.

Colorado Springs, Colo.-based Ramtron and San Jose, Calif.-based Cypress announced the...
To view the full article, register now.