News & Analysis
Comment
hwstar
I think Ramtron is viewed as a threat to the Cypress quantum trap auto-store ...
dylan.mcgrath
@Neo1- it's a good question. On one hand, you would think they would have given ...
Cypress again ups ante for Ramtron
Dylan McGrath
8/27/2012 1:12 PM EDT
SAN FRANCISCO—Cypress Semiconductor Corp. said Monday (Aug. 27) it increased its offer to acquire FRAM vendor Ramtron International Corp. for a second time.
Cypress (San Jose, Calif.) said it increased its all-cash offer for Ramtron to $2.88 per share, or around $100 million.
Previously Cypress had offered $2.68 per share and, before that, $2.48 per share to acquire Ramtron (Colorado Springs, Colo.). Last year, Cypress offered to acquire Ramtron for $3.01 per share.
According to Cypress, the new offer represents a 59 percent premium over Ramtron's closing price of $1.81 per share on June 11, the day before Cypress publicly disclosed its offer for Ramtron.
Ramtron's board of directors last month rejected the $2.68 per share offer from Cypress and said it entered discussions with "major semiconductor companies" about a potential strategic transaction.
Cypress's latest tender offer for Ramtron shares is scheduled to expire at 5 p.m. Eastern Standard Time on Sept. 11. Cypress has extended the deadline for the offer several times.
In a statement, T.J. Rodgers, Cypress president and CEO, said his firm is now in discussions with Ramtron's financial advisors. "We are increasing our offer to $2.88 per share in the hopes of completing a transaction quickly, which we believe is in the best interest of Cypress, as well as Ramtron's stockholders," Rodgers said.
Related stories:
Cypress (San Jose, Calif.) said it increased its all-cash offer for Ramtron to $2.88 per share, or around $100 million.
Previously Cypress had offered $2.68 per share and, before that, $2.48 per share to acquire Ramtron (Colorado Springs, Colo.). Last year, Cypress offered to acquire Ramtron for $3.01 per share.
According to Cypress, the new offer represents a 59 percent premium over Ramtron's closing price of $1.81 per share on June 11, the day before Cypress publicly disclosed its offer for Ramtron.
Ramtron's board of directors last month rejected the $2.68 per share offer from Cypress and said it entered discussions with "major semiconductor companies" about a potential strategic transaction.
Cypress's latest tender offer for Ramtron shares is scheduled to expire at 5 p.m. Eastern Standard Time on Sept. 11. Cypress has extended the deadline for the offer several times.
In a statement, T.J. Rodgers, Cypress president and CEO, said his firm is now in discussions with Ramtron's financial advisors. "We are increasing our offer to $2.88 per share in the hopes of completing a transaction quickly, which we believe is in the best interest of Cypress, as well as Ramtron's stockholders," Rodgers said.
Related stories:
- Cypress, Ramtron continue standoff
- Chipmaker Ramtron posts lower revenue, shares fall
- Ramtron extends Fram agreement with Rohm
- Ramtron rejects Cypress again, in talks with others
- Cypress ups offer for Ramtron
- Ramtron rejects Cypress Semi offer
|
|
|
|
|
Navigate to related information
Roadman
8/27/2012 8:10 PM EDT
Seems like TJ is this kid who does not want to take no for answer, am sure never had any girl friends.
May be they do not want be bought Cypress, may be want to go with TI.
BTW putting this in PSUC does not address the in ability, to take on fixed function low geometry MCU on, power and cost.
Sign in to Reply
Neo1
8/27/2012 10:27 PM EDT
Wonder why Cypress is hell bent on this memory maker, didn't think they had any R&D going in this area. Three offers in a year for a still largely unviable technology..I smell something.
Sign in to Reply
dylan.mcgrath
8/28/2012 1:41 AM EDT
@Neo1- it's a good question. On one hand, you would think they would have given up by now. But on the other hand, they've only upped their offer a little bit and it's still below the amount they offered last year. I am guessing that Cypress sti,l believes this is a screaming deal, even though it has not been as easy they hoped. But why? What are the Cypress plans for Ramtron? Good question.
Sign in to Reply
hwstar
8/28/2012 12:20 PM EDT
I think Ramtron is viewed as a threat to the Cypress quantum trap auto-store NVRAM business. The quantum trap parts are easy to use, but very expensive. The Ramtron parts require no shadow ram or external capacitor.
Sign in to Reply