Ramtron International Corp. (RMTR: Quote) confirmed that it received an unsolicited proposal from Cypress Semiconductor Corp. (CY: Quote) on June 12 to acquire all outstanding stock of Ramtron at a price of $2.48 per share in cash.
Consistent with its fiduciary duties, the Board of Directors of Ramtron will review and consider the proposal, in consultation with its financial and legal advisors, and determine the course of action that it believes is in the best interests of Ramtron and its stockholders.
Ramtron stockholders are advised to take no action at this time pending the review of the proposal by Ramtron's Board of Directors.
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by RTT Staff Writer
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