Mentor Graphics responded to a critical letter from Carl Icahn, saying that the billionaire investor doesn’t understand the company.
Mentor Graphics responded to a critical letter from Carl Icahn, saying that the billionaire investor doesn’t understand the company.
“Carl Icahn is trying to replace three of Mentor Graphics’ nominees with his own, hand-picked nominees,” Wally Rhines, Mentor’s chief executive, wrote in an open letter to the company’s shareholders. “Icahn’s primary aim is to provide himself with liquidity through a public sale process that is risky and is likely to destroy the shareholder value that your company has created.”
The two sides are jockeying for position ahead of Mentor’s May 12 annual meeting, when investors’ votes will be tallied to determine whether Icahn has succeeded in unseating three incumbent board members.
Read more at OregonLive.com.
{biztweet}mentor graphics{/biztweet}
