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© mopic _dreamstime.com Electronics Production | October 21, 2016

Mentor exploring potential sale

Mentor Graphics is reportedly working with Bank of America to explore strategic alternatives – including a potential sale of the company.
Reuters received information from people familiar with the matter, stating that the company might reach out to major industrial companies that have software operations, companies like Siemens AG and Dassault Systems SA. The sources also stated that the Mentor will look into private equity firms for potential interest.

Mentor Graphics, Siemens and Dassault have not responded to Reuters request for a comment.

The company has felt some pressure since last month when activist hedge fund Elliott Management Corp took on an 8.1% stake in Mentor and stated that its shares were deeply undervalued, the Reuters report continues.

“There are numerous operational opportunities, including enhancing operational efficiency and revenue quality, as well as strategic opportunities,” The hedge fund said in a 13D filling, Bloomberg reports.

Elliott has initiated a dialogue with the management and board of directors regarding these opportunities, the report continues.

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