Analysis
Cypress Semiconductor Extends Offer to Acquire Ramtron International
Cypress Semiconductor today announced that, in connection with its previously announced merger agreement with Ramtron International it has increased the offer price in its tender offer to acquire all of the outstanding stock of Ramtron to $3.10 per share and extended the expiration date of the offer to 12:00 midnight, New York City time, on October 9, 2012, unless further extended. The all-cash offer is subject to customary closing conditions as set forth in the merger agreement, and further described in the amendment and supplement to the Offer to Purchase filed today with the Securities and Exchange Commission.
RamtThe offer was previously scheduled to expire at 5:00 p.m., New York City time, on September 25, 2012. As of 4:00 p.m., New York City time, on September 24, 2012, 5,731,472 shares of Ramtron (including 74,559 shares subject to guarantees of delivery) had been tendered and not withdrawn pursuant to the offer.
Greenhill & Co., LLC is acting as financial advisor to Cypress and dealer manager for the offer, and Wilson Sonsini Goodrich & Rosati, Professional Corporation, is acting as legal counsel.
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