Ramtron agrees to Cypress Semiconductor's $110 mln bid

Sept 19 Wed Sep 19, 2012 8:58am EDT

Sept 19 (Reuters) - Cypress Semiconductor said it will acquire Ramtron International Corp $109.8 million, ending its months-long pursuit of the memory chip maker.

The $3.10 per share offer, Cypress's fourth in more than one year for the smaller chipmaker, represents a premium of 8 percent to Ramtron's closing price on Tuesday.

Cypress made its first public offer for Ramtron in June with a $2.48 per share bid, reviving an undisclosed bid in 2011.

Cypress is being advised by Greenhill & Co, while Needham & Co is financial adviser to Ramtron. The deal is expected to close by the end of the calendar year.

Ramtron's shares closed at $2.87 on Tuesday on the Nasdaq, while shares of Cypress closed at $12.58 on Tuesday.

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