Siemens AG (SIEGn.DE), Europe’s biggest industrial group, is nearing a deal to buy Mentor Graphics Corp (MENT.O), which makes software for designing semiconductors, for $4.5 billion to $4.6 billion in cash, according to people familiar with the matter.
The deal could be announced as soon as Monday, according to the sources, who requested anonymity because the matter is private.
Siemens and Mentor Graphics could not immediately be reached for comment.
Mentor Graphics has been under pressure since activist hedge fund Elliott Management Corp reported an 8.1 percent stake in the company in September and said its shares were deeply undervalued.
Reuters reported last month that Mentor Graphics was working with Bank of America Corp (BAC.N) to explore strategic alternatives, including a sale.
(Reporting by Liana B. Baker in San Francisco; Editing by Lisa Von Ahn)
Recent Articles on M&A
Source: Reuters.com
