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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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[X] No Fee Required.
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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 19, 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 22,
2002, unless further extended. The tender offer was previously scheduled to
expire at 12:00 Midnight, New York City time, on Friday, February 15, 2002.
As of the close of business on February 15, 2002, 637,603 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 15.6% of
IKOS' outstanding common stock (based upon 9,459,132 shares outstanding as of
January 10, 2002). The shares tendered represent approximately 6.7% 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