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Cypress Semiconductor Corporation
CY announced today the completion
of its initial tender offer for all of the outstanding stock of Ramtron
International Corporation
RMTR.
The initial offering period expired at 12:00 midnight, New York City time, on
October 9, 2012. Computershare Inc., the depositary for the tender offer, has
advised Cypress that as of such time 23,290,666 shares had been validly
tendered and not withdrawn, representing, together with shares beneficially
owned by Cypress, a total of approximately 70% of Ramtron's outstanding stock.
An additional 559,785 shares were tendered subject to guaranteed delivery
procedures, representing approximately 2% of Ramtron's outstanding stock. All
shares validly tendered and not withdrawn were accepted for payment.
Cypress also announced today that it would make available a subsequent
offering period commencing immediately and expiring at 5:00 p.m., New York
City time, on October 17, 2012, unless extended. The subsequent offering
period will provide Ramtron stockholders who have not tendered their shares
with the opportunity to do so. During the subsequent offering period, any
shares validly tendered will be immediately accepted for payment, and
tendering stockholders will promptly be paid $3.10 per share in cash, less any
withholding taxes and without interest, which is the same amount per share
that was offered and paid to Ramtron stockholders who tendered into the
initial offering period.
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