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WILSONVILLE, Ore., February 22, 2011 - Mentor Graphics Corp. (NASDAQ: MENT) today confirmed that it has received an unsolicited conditional proposal from Carl Icahn and certain of his affiliated entities (the “Icahn Group”) for all of the outstanding shares of the company other than those it already owns at a price of $17 per share in cash.
The company’s Board of Directors will review the Icahn Group’s conditional proposal including any trade regulation limitations that may apply to alternate proposals and make a recommendation to shareholders in due course. Mentor Graphics shareholders are advised to take no action at this time pending the review of the proposal by the Mentor Graphics Board.
The company will release financial results for the fourth fiscal quarter, ended January 31, 2011, on Thursday, February 24, 2011 at approximately 4:15 p.m. Eastern time. A conference call with investors to discuss the financial results is scheduled for 5:00 p.m. Eastern time.
Mentor Graphics® is a leader in electronic design automation. We enable companies to develop better electronic products faster and more cost-effectively. Our innovative products and solutions help engineers conquer design challenges in the increasingly complex worlds of board and chip design.
Mentor Graphics has the broadest industry portfolio of best-in-class products and is the only EDA company with an embedded software solution.