Fresh PCB Concepts: PCB Design Essentials for Electric Vehicle Charging
Elementary, Mr. Watson: Rules of Thumb—Guidelines vs. Principles for PCB Design
Beyond Design: High-speed Rules of Thumb
Mentor Graphics Announces Repurchase of Shares from Icahn Group
February 19, 2016 | PRNewswireEstimated reading time: 1 minute
Mentor Graphics Corporation today announced that it has entered into an agreement to repurchase 8,060,145 shares of Mentor Graphics common stock beneficially owned by Carl C. Icahn and certain of his affiliates, at a purchase price of $18.12 per share, the NASDAQ official closing price of Mentor Graphics common stock on February 18, 2016. The total purchase price for the shares will be $146 million and will be funded from Mentor Graphics cash and cash equivalents on hand. The transaction is expected to be completed on February 26, 2016.
"Our decision to repurchase these shares reflects Mentor's belief in the value of our industry-leading technologies, new market franchises and strong financial position," said Walden C. Rhines, chairman and CEO of Mentor Graphics. "These positions provide us with a strong foundation to deliver long-term share value."
Inclusive of this transaction, since the third quarter of fiscal 2016 earnings release on November 19, 2015, Mentor Graphics has repurchased approximately 12.2 million shares, approximately 10 percent, of our fully diluted shares outstanding.
The repurchase announced today was made outside of Mentor Graphics' existing share repurchase program and approximately $90 million remains available for repurchase under this program.
The company anticipates announcing financial results for its fiscal year ended January 31, 2016 in early March and will discuss current share count and earnings per share guidance at the time of the earnings release and conference call.
About Mentor Graphics
Mentor Graphics Corporation is a world leader in electronic hardware and software design solutions, providing products, consulting services and award-winning support for the world's most successful electronic, semiconductor and systems companies. Established in 1981, the company reported revenues for the fiscal year ending January 31, 2015, of approximately $1.2 billion. Corporate headquarters are located at 8005 S.W. Boeckman Road, Wilsonville, Oregon 97070-7777. For more information, click here.
Share on:
Suggested Items
Camtek Receives Orders for Over $50 Million for its New Product Line: Hawk
11/29/2024 | CamtekCamtek Ltd., announced that it has received over $50 million in initial orders from several customers for its new Hawk product, with additional orders in the pipeline. These orders will be delivered throughout 2025.
Nano Dimension Posts Revenue of Revenue $14.9M in Q3 2024; Up 22% YoY
11/20/2024 | Nano DimensionNano Dimension Ltd., a leading supplier of Additively Manufactured Electronics (AME) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (AM) 3D printing solutions, today announced financial results for the third quarter ended September 30th , 2024 and shared a letter from Yoav Stern, the Company’s Chief Executive Officer and member of the Board of Directors.
Eltek Reports Q3 2024 Financial Results
11/20/2024 | PRNewswireEltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), today announced its financial results for the quarter ended September 30, 2024.
China’s Energy Subsidies Boost 3Q24 TV Shipments by Nearly 10%; Annual Shipments Return to Growth
11/19/2024 | TrendForceGlobal TV brand shipments reached 52.33 million units in 3Q24, reflecting a QoQ increase of 9.6% and a YoY growth of 0.5%.
Sypris Reports Q3 Results; Revenue Up 6.2%
11/19/2024 | Sypris Electronics LLCRevenue for the quarter increased 6.2% year-over-year, driven by a 13.6% increase for Sypris Electronics and a 0.7% increase for Sypris Technologies. Orders were up 6.5% for the quarter and 13.4% year-to-date, reflecting positive growth for both businesses.