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Software | June 17, 2008

Mentor turns down Cadence offer

EDA software maker Cadence Design Systems Inc has placed a bid for Mentor Graphics at an estimated value of $1.45 billion, but Mentor has rejected the offer.

Cadence said it would be willing to pay $16 in cash per share, a 30 percent premium to Mentor's Nasdaq closing price on Monday, according to a Reuters report.
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