Icahn turns up heat on Mentor's board

Dylan McGrath, EETimes
3/30/2011 1:41 PM EDT

SAN FRANCISCO—Billionaire financier Carl Icahn lashed out at EDA vendor Mentor Graphics Corp.'s board of directors Tuesday (March 29), slamming the board for rejecting his $1.9 billion takeover bid and announcing plans to raise up to $253 million through private placement of convertible bonds.

Mentor said Monday that its board voted unanimously to reject a $1.9 billion takeover bid made by billionaire financier Carl Icahn last month. On Tuesday, the company said it would raise money through private placement of between $220 million and $253 million worth of convertible bonds due in 2031.

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