(Adds second statement from Flomerics)
LONDON (Thomson Financial) - Flomerics Group Plc. said takeover talks with
Autodesk Inc have ended with the U.S. design software maker deciding not to make
an offer for Flomerics at this stage.
After rejecting an offer at 104 pence per share from Mentor Graphics Corp in
May, simulation software company Flomerics confirmed it was in bid talks with
Autodesk in June and later said that any offer would be in cash only.
Flomerics today reiterated its rejection of the Mentor bid as "wholly
inadequate" and advised shareholders to take no action.
Mentor Graphics, itself the subject of an unsolicited takeover bid from
Cadence Design Systems Inc, said Tuesday it had extended its offer for Flomerics
to July 2 after receiving valid acceptances in respect of just 2.19 percent of
the company's issued share capital.
In a separate statement, Flomerics said the level of acceptances had dropped
from the previously announced 2.44 percent after Mentor was forced to clarify
certain comments and introduce withdrawal rights to those Flomerics shareholders
who had already accepted the offer.
tf.TFN-Europe_newsdesk@thomson.com
vlb
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