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Tuesday, May 17, 2011

Icahn likely to win two seats on Mentor board, (NASDAQ: MENT)

Carl Icahn is likely to win two seats on Mentor Graphics' (MENT.O) board of directors following a vote at the company's annual meeting on Thursday, two top holders said. Icahn, who holds nearly 15 percent of Mentor Graphics, offered $1.73 billion to purchase the company in February and also nominated three individuals to replace directors on the 8-person board.

Mentor Graphics Corporation is a provider of software and hardware design solutions that enable its customers to develop electronic products. Shares of MENT traded higher by 0.91% or $0.13/share to $14.46. In the past year, the shares have traded as low as $8.09 and as high as $16.56. On average, 1474590 shares of MENT exchange hands on a given day and today's volume is recorded at 314726.