I get the impression that Icahn was one of those people trying to force the sale of Mentor to Cadence. Anyways, I don't think he has a sound strategy. Causing Mentor to go bankrupt by piling up debt frankly does not seem like a good long term business proposal.
By waiving the breakup fee, Carl Icahn may be hoping for someone to buy HIM out ...
My own expectation when Carl Icahn appeared was that he intended to scare up the value of MENT, which has happened with other of his holdings (it worked for Yahoo, for a while; but let's not talk about Blockbuster) and pushed the issue by buying up to the ceiling. And then, to pull out another cliche, finding himself painted into a corner.
Replay available now: A handful of emerging network technologies are competing to be the preferred wide-area connection for the Internet of Things. All claim lower costs and power use than cellular but none have wide deployment yet. Listen in as proponents of leading contenders make their case to be the metro or national IoT network of the future. Rick Merritt, EE Times Silicon Valley Bureau Chief, moderators this discussion. Join in and ask his guests questions.