Ramtron (RMTR) Says Cypress (CY) Offer at $2.68/Share is 'Inadequate'

Ramtron International Corporation (Nasdaq: RMTR), announced that its Board of Directors has carefully reviewed the unsolicited tender offer from Cypress Semiconductor Corporation (Nasdaq: CY) to acquire all outstanding stock of Ramtron at a price of $2.68 per share in cash, in consultation with its financial and legal advisors, and unanimously concluded that the tender offer is inadequate, does not reflect the intrinsic value of the Company, and is not in the best interest of Ramtron and its stockholders. Therefore, the Board unanimously recommends that Ramtron stockholders reject the offer and not tender their shares into the offer.

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