Billionaire activist investor Carl Icahn offered $1.73 billion for Mentor Graphics Corp , and predicted the move would flush out higher bids for the chip-design software maker. Icahn, Mentor's biggest shareholder with a 14.7 percent stake, offered $17 a share -- a 17 percent premium to the company's Friday close of $14.52. In a letter to Mentor's board, Icahn wrote: "We believe there are potential strategic bidders for Mentor Graphics whose bid will reflect inherent synergies and should be superior to our $17 offer."
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