Ramtron Rejects Takeover Offer

Colorado Springs-based semiconductor memory maker Ramtron rejected the takeover offer from Cypress Semiconductor today, saying that the offer of $2.48 per share of common stock for Ramtron is "not in the best interest" of its stockholders. The firm said the offer "does not reflect the intrinsic value" of the firm. Cypress made a hostile bid for Ramtron on June 13th, worth approximately $87.5M.