The transaction value for Cypress’ latest offer is estimated at $109.3m
Cypress Semiconductor has increased its all-cash offer to acquire Ramtron International to $2.88 per share from $2.68 per share, which is about $109.3m.
The company offered $2.48 per share for Ramtron on 12 June 2012 and raised its offer to $2.68 per share on 21 June 2012.
Cypress president and CEO TJ Rodgers said: "We are increasing our offer to $2.88 per share in the hopes of completing a transaction quickly, which we believe is in the best interest of Cypress, as well as Ramtron’s stockholders."
Greenhill & Co. is acting as financial advisor to Cypress and dealer manager for the offer while Wilson Sonsini Goodrich & Rosati, Professional Corp., is acting as legal counsel.
US based fabless semiconductor firm Ramtron designs, develops and markets specialised semiconductor memory and integrated semiconductor solutions used range of product applications and markets.
The company posted revenue of $14.2m for the second quarter of 2012, compared to $16.8m for the same period 2011.
For the second quarter of 2012, the company posted a net income of $0.7m, or $0 per share, compared to a net loss of $0.68m or ($0.02) per share, for the same period a year ago.