Billionaire investor Carl Icahn is likely to win two seats on Mentor Graphics' (MENT.O) board of directors in voting at the company's annual meeting on Thursday, two top Mentor shareholders said. The two shareholders, who together hold more than 8 percent of Mentor's outstanding shares, said they would support Icahn nominees Jose Maria Alapont and Gary Meyers and expected them to win board seats. The shareholders asked not to be named. A Mentor spokeswoman failed to comment on the matter. Icahn, who holds a nearly 15 percent stake in Mentor, offered $1.73 billion to purchase the company in February, but the bid was rejected. He has nominated three individuals to replace directors on the eight-member 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 1.4% or $0.2001/share to $14.5301. 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 498261.
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