Tuesday, October 13, 2009

Mentor Graphics and Valor sign definitive merger agreement

WILSONVILLE, USA & YAVNE, ISRAEL: Mentor Graphics Corp. and Valor Computerized Systems, Ltd announced that the two companies have signed a definitive merger agreement for Mentor Graphics to acquire Valor.

About the transaction
Under the terms of the agreement, which was approved by the boards of directors of both companies, Valor shareholders will receive a combination of Mentor Graphics common shares and cash for aggregate consideration of approximately $82 million, equating to approximately $4.60 per Valor share.

Subject to satisfaction of regulatory requirements and approval of Valor shareholders, as well as certain closing conditions, the transaction is expected to close during the first calendar quarter of 2010, after which Valor will become a wholly-owned subsidiary of Mentor Graphics.

Shareholders owning approximately 50 percent of outstanding shares of Valor have committed to vote in favor of the transaction.

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