Ramtron Rises 34% on Bid From Cypress Semi
Shares of Ramtron International (NASDAQ: RMTR) are trading up 34% on Tuesday after the company received a buyout offer from Cypress Semiconductor (NASDAQ: CY) for $2.48 in cash. The deal price represents a 37% premium over RMTR's closing price on June 11, 2012.
“We believe that our offer provides compelling value to Ramtron's stockholders,” said T.J. Rodgers, President and Chief Executive Officer of Cypress.
At last check, RMTR was trading at $2.42 versus the $2.48 bid price.
Ramtron International Corporation (Ramtron) is a fabless semiconductor company that designs, develops and markets specialized semiconductor memory, microcontrollers, and integrated semiconductor solutions, used in many markets for a range of applications in the metering, computing and information systems, automotive, communications, consumer and industrial, scientific and medical markets.
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