Cypress raises offer for Ramtron to $94.6 million

Reuters News
Posted: Jun 21, 2012 7:23 AM
(Reuters) - Cypress Semiconductor Corp raised its offer price for smaller rival Ramtron International Corp to $94.6 million.The chipmaker's new offer price of $2.68 per share, up from its previous offer of $2.48 per share, is below Ramtron's Wednesday closing price of $2.75 on the Nasdaq.Ramtron on Monday turned down Cypress's offer to buy the company for about $87.6 million, and said it would explore other options including a sale.The offer and withdrawal rights will expire at 12 midnight New York City time on July 19 unless the offer is extended, Cypress said in a statement on Thursday.(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Maju Samuel)