Mentor Graphics Corp said a takeover proposal by investor Carl Icahn undervalues the chip-design software maker, and this is not the time to put the company up for sale. "Our share price has grown by more than 70 percent over the last year, for a two-year aggregate growth of approximately 200 percent, significantly outperforming our peer group and the market," Chief Executive Walden Rhines said in a statement on Monday. The company said it determined that Icahn's $17 per share proposal undervalues the company.
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