Ramtron (RMTR) Says Revised Cypress (CY) Offer 'Inadequate'
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Ramtron International Corporation (Nasdaq: RMTR), announced that its Board of Directors has carefully reviewed the revised unsolicited tender offer from Cypress Semiconductor Corporation (Nasdaq: CY) to acquire all outstanding stock of Ramtron at a price of $2.88 per share in cash, in consultation with its financial and legal advisors, and unanimously concluded that the revised 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 revised offer and not tender their shares into the revised offer.
The basis for the Board’s recommendation is set forth in an Amended Schedule 14D-9 Ramtron is filing today with the Securities and Exchange Commission.
The basis for the Board’s recommendation is set forth in an Amended Schedule 14D-9 Ramtron is filing today with the Securities and Exchange Commission.
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