Ramtron Rejects Takeover Offer

Colorado Springs-based Ramtron, the developer of ferroelectric random access memory (RAM), said today that its board has unanimously concluded a hostile offer from Cypress Semiconductor is "inadequate". The semiconductor maker said the offer of $2.68 per share in cash for the firm "does not reflect the intrinsic value of the Company, and is not in the best interest of Ramtron and its stockholders." Cypress made its hostile bid for Ramtron on June 21st.