BOSTON (Reuters) - Talks over a possible takeover of Cadence Design Corp. (CDNS.O) by two private equity firms have stalled over price, The New York Times reported on Monday, sending the software maker’s shares down nearly 5 percent.
Cadence, which makes software for designing computer chips, has held talks with Kohlberg Kravis Roberts (KKR) KKR.UL and Blackstone Group BG.UL, but discussions have been suspended, according to the report, which cited people close to the matter.
Neither Blackstone, KKR nor Cadence immediately returned calls seeking comment.
At $6.5 billion, Cadence may be too expensive for the firms, according to The Times, which first reported interest in a deal on June 4.
Cadence shares fell $1.08 to $22.22 in heavy morning trade on Nasdaq. Its stock rose to $23.54 on Friday from $22.90 on June 3.
Additional reporting by Nick Zieminski in New York.