Icahn Group Offers $17 per Share for Mentor Graphics

Carl Icahn and certain of his affiliated entities (the “Icahn Group”) has made an unsolicited conditional proposal for all of the outstanding Mentor Graphics (NASDAQ: MENT) shares that the Icahn Group don’t already owns. The Icahn Group is offering $17 per share in cash, which is a 17% premium to Mentor’s closing price of $14.52 on Friday.

Mentor Graphics’ Board of Directors will review the Icahn Group’s conditional proposal including any trade regulation limitations that may apply to alternate proposals and make a recommendation to shareholders in due course. Mentor Graphics is advising shareholders to take no action at this time pending the review of the proposal by the Mentor Graphics Board.

Mentor Graphics will release financial results for the fourth fiscal quarter, ended January 31, 2011, on Thursday, February 24, 2011 at approximately 4:15 p.m. Eastern time. A conference call with investors to discuss the financial results is scheduled for 5:00 PM Eastern time. Conference call replay will be available starting February 24, 2011 (7:00 p.m. Eastern time). USA 800-475-6701; International 320-365-3844; Access code: 192453

More information: Mentor Graphics Investors Webcast