Ramtron confirms unsolicited offer from Cypress

Ramtron International Corporation confirms that it received an unsolicited proposal from Cypress Semiconductor Corporation on June 12 to acquire all outstanding stock of Ramtron at a price of $2.48 per share in cash. Consistent with its fiduciary duties, Ramtron’s Board of Directors will review and consider the proposal, in consultation with its financial and legal advisors, and determine the course of action that it believes is in the best interests of Ramtron and its stockholders. Ramtron stockholders are advised to take no action at this time pending the review of the proposal by Ramtron's Board of Directors, the press release states.