KUHN CAPITAL Tuesday, March 20, 2018
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Mentor Graphics to Acquire Innoveda

Electronic design automation provider Mentor Graphics agreed today to acquire Innoveda, a programmable chip software vendor.

Under the terms of the merger agreement, Indiana Merger Corporation, a subsidiary of Mentor Graphics, will make a tender offer to purchase all outstanding shares of Innoveda common stock at a price of $3.95 per share in cash. The offer is subject to certain conditions, including government approvals and the tender of at least a majority of Innoveda's outstanding shares on a fully-diluted basis.

The merger agreement provides for the tender offer, expected to commence this month, to be followed by a second-step merger in which those shares not tendered will be converted into the right to receive the same $3.95 per share in cash. Stockholders representing about 40% of Innoveda's outstanding shares have agreed to tender their shares in the tender offer and if necessary, to vote their shares in favor of the proposed merger.

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