Cypress Extends Offer to Buy Ramtron at $2.88

Cypress Semiconductor Corporation CY today announced that it has extended its tender offer to acquire all of the outstanding stock of Ramtron International Corporation RMTR for $2.88 per share in cash to 5:00 p.m., New York City time, on September 25, 2012. The offer was previously scheduled to expire at 5:00 p.m., New York City time, on September 11, 2012. Cypress's offer represents a 59% premium over Ramtron's closing price of $1.81 per share on June 11, 2012, the day before Cypress publicly disclosed its offer for Ramtron. Except for the extension of the expiration date, all other terms and conditions of the offer remain unchanged. The all-cash offer is not conditioned on due diligence or financing.