Chipmaker Ramtron International has spurred rival Cypress’ advances as it were a rabid dog.
Cypress had got down on one knee, come up with a ring, and offered to buy the company for about $87.6 million.
To paraphrase Jane Austin, Cypress replied that it should not be prevailed upon to marry were it the last company on earth solely responsible for the propagation of capitalism!
It said that it would explore other options including a sale perhaps to someone a little more wealthy.
Ramtron said that Cypress’s offer did not reflect the intrinsic value of the company and is not in the best interest of stockholders.
Ramtron’s shares rose as much as seven percent to a 10-month high of $2.61, well above Cypress’s $2.48 per share offer.
Atmel and Renesas Electronics are believed to be snuffling around for Ramtron’s favours and might even be persuaded to dance with it at one of Lady Ballmer’s balls.
Cypress may not take no for an answer. It offered to buy Ramtron last week, reviving a previously undisclosed bid it made last year.
Ramtron has insisted to its friends that it is not rejecting Cypress as such, which would be invited to the same balls as Atmel and Renesas.
Its friends insist that Ramtron just wants to see three companies duel for its affections and if Cypress wants to get its paws on Ramtron’s ample assets it is going to have to come up with more dosh.