Cadence Design Systems Inc (CDNS)

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Mentor Graphics calls Cadence bid pull 'inconsistent'
2:51 PM EDT August 15, 2008
SAN FRANCISCO (MarketWatch) -- Mentor Graphics Corp. said Friday that the withdrawal of Cadence Design Systems Inc.'s $1.6 billion bid for the company was "inconsistent" with recent dialogue between the two firms. Earlier in the day, Cadence Design Systems said it withdrew the bid and accused Mentor's board of being "unwilling to engage in substantive discussions." Mentor said that it was aware of the "challenges" Cadence was having securing financing, and pointed to a Federal Trade Commission request on Friday that would have drawn out the transaction.