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SCHEDULE 14A INFORMATION
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IKOS SYSTEMS, INC.
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(Name of Registrant as Specified in Its Charter)
MENTOR GRAPHICS CORPORATION
FRESNO CORPORATION
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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(1) Title of each class of securities to which transaction applies:
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FOR IMMEDIATE RELEASE
MENTOR GRAPHICS EXTENDS TENDER OFFER FOR IKOS SYSTEMS, INC.
WILSONVILLE, OR - February 11, 2002 - Mentor Graphics Corporation (Nasdaq:
MENT) today announced that it has extended its $11.00 per share cash tender
offer for all outstanding shares of the common stock of IKOS Systems, Inc.
(Nasdaq: IKOS) to 12:00 Midnight, New York City time, on Friday, February 15,
2002, unless further extended. The tender offer was previously scheduled to
expire at 12:00 Midnight, New York City time, on Friday, February 8, 2002.
As of the close of business on February 8, 2002, 813,963 shares of IKOS common
stock had been validly tendered into the offer, which, together with the
841,600 shares already beneficially owned by Mentor, represents approximately
17.5 percent of IKOS' outstanding common stock (based upon 9,459,132 shares
outstanding as of January 10, 2002). The shares tendered represent
approximately 8.6 percent of the outstanding common stock.
As announced on December 7, 2001, Mentor Graphics offered to acquire IKOS
Systems for $11.00 in cash per share of IKOS common stock. The offer represents
a premium of 37% over the Nasdaq closing price of IKOS stock on December 6,
2001 and a premium of 49.5% over IKOS' closing price on June 29, 2001, the
last trading day before IKOS announced its proposed acquisition by Synopsys,
Inc. (Nasdaq: SNPS). Furthermore, the offer represents a premium of 87% over
the average closing price of IKOS stock for the thirty trading days ended
December 6, 2001. In addition, Mentor's offer is subject to fewer conditions
than the Synopsys proposal and can be consummated months earlier than the
Synopsys proposal. Mentor's offer is not subject to any financing condition.
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ABOUT MENTOR GRAPHICS
Mentor Graphics Corporation (Nasdaq: MENT) is a world leader in electronic
hardware and software design solutions, providing products, consulting services
and award-winning support for the world's most successful electronics and
semiconductor companies. Established in 1981, Mentor Graphics reported revenues
over the last 12 months of more than $600 million and employs approximately
3,000 people worldwide. Corporate headquarters are located at 8005 S.W. Boeckman
Road, Wilsonville, Oregon 97070-7777; Silicon Valley headquarters are located at
1001 Ridder Park Drive, San Jose, California 95131-2314. World Wide Web site:
www.mentor.com.
Mentor Graphics is a registered trademark of Mentor Graphics Corporation. All
other company or product names are the registered trademarks or trademarks of
their respective owners.
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CONTACTS
Mentor Graphics Corporation The Abernathy MacGregor Group
Ryerson Schwark Chuck Burgess
Tel: 503-685-1660 Jason Thompson
Tel: 212-371-5999