Cypress Semiconductor Corporation CY today announced that, in
connection with its previously announced merger agreement with Ramtron
International Corporation RMTR, it has increased the offer price in
its tender offer to acquire all of the outstanding stock of Ramtron to $3.10
per share and extended the expiration date of the offer to 12:00 midnight, New
York City time, on October 9, 2012, unless further extended. The all-cash
offer is subject to customary closing conditions as set forth in the merger
agreement, and further described in the amendment and supplement to the Offer
to Purchase filed today with the Securities and Exchange Commission.
Ramtron's board of directors has unanimously recommended that stockholders
tender their shares into the offer.
The offer was previously scheduled to expire at 5:00 p.m., New York City time,
on September 25, 2012. As of 4:00 p.m., New York City time, on September 24,
2012, 5,731,472 shares of Ramtron (including 74,559 shares subject to
guarantees of delivery) had been tendered and not withdrawn pursuant to the
offer.
Greenhill & Co., LLC is acting as financial advisor to Cypress and dealer
manager for the offer, and Wilson Sonsini Goodrich & Rosati, Professional
Corporation, is acting as legal counsel.
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