The deal will be closed in the first quarter of 2010, when Valor will become a wholly-owned subsidiary of Mentor Graphics.
Mentor Graphics Corporation (Nasdaq: MENT) and Valor Computerized Systems Ltd. (XETRA: VCR) today announced that they have signed a definitive merger agreement for Mentor Graphics to acquire Valor. The companies expect to close the deal during the first quarter of 2010, at which point Valor will become a wholly-owned subsidiary of Mentor Graphics and will be delisted.
Mentor Graphics is acquiring Valor for $82 million in cash and shares, at a value of about $4.60 per share for Valor. Valor's share rose 6.7% by midday today on the Frankfurt Stock Exchange to €2.71.
The boards of both Valor and Mentor Graphics have approved the merger. Valor shareholders still have to approve it. Valor said that shareholders holding about half of it shares have committed to vote in favor.
Published by Globes [online], Israel business news - www.globes-online.com - on October 13, 2009
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