Mentor Graphics (MENT) Jumps After Icahn Wins Three Board Seats
Tweet Send to a FriendGet Alerts MENT Hot Sheet
Price: $18.46 +1.88%
Overall Analyst Rating:
NEUTRAL (
Up)
Dividend Yield: 1%
Revenue Growth %: -8.6%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 1%
Revenue Growth %: -8.6%
Trade MENT Now!
Shares of Mentor Graphics Corp. (Nasdaq: MENT) are up over 6 percent in mid-day trading after Carl Icahn said three of his nominees won election to the Board of Directors, replacing incumbent directors James Fiebiger, Marsha Congdon and Fontaine Richardson.
"This is an important victory for Mentor Graphics shareholders," Icahn said. "We continue to believe Mentor's shares are undervalued and are pleased to have provided a mechanism for shareholders to have a greater voice in determining the company's future. Our nominees look forward to a cooperative and productive relationship with the remaining incumbent directors."
Earlier this year, Icahn offered to acquire the company for $17 per share, which the company rejected.
Today's news could reignite takeover interest.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
"This is an important victory for Mentor Graphics shareholders," Icahn said. "We continue to believe Mentor's shares are undervalued and are pleased to have provided a mechanism for shareholders to have a greater voice in determining the company's future. Our nominees look forward to a cooperative and productive relationship with the remaining incumbent directors."
Earlier this year, Icahn offered to acquire the company for $17 per share, which the company rejected.
Today's news could reignite takeover interest.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Bausch & Lomb near deal to sell to Valeant Pharmaceuticals (VRX) - WSJ
- NASDAQ OMX (NDAQ), Thomson Reuters (TRI) Enter Asset Purchase Agreement
- Tween/Teen Retail Stocks on Watch After rue21 (RUE) Acquired at 23% Premium
Create E-mail Alert Related Categories
Corporate News, Mergers and Acquisitions, RumorsRelated Entities
Carl Icahn
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
