Friday, May 13, 2011

Mentor Graphics Loses Proxy Fight To Icahn

Wilsonville, Oregon-based Mentor Graphics Corp. said Thursday that, based on preliminary estimates from its proxy solicitor, three of Carl Icahn's nominees to the firm's board have been elected to its board. Icahn has been aggressively pursuing the company after the firm rejected a $1.91 billion takeover offer from Icahn. Icahn then instead turned to the proxy fight in a now successful attempt to wrestle control from Mentor's board.