Chapman Capital reiterates its demand for a Cypress Semi (CY) Reorganization
UPDATE: Activist investor Chapman Capital reiterates its demand for a Cypress Semiconductor Corporation (NYSE: CY) reorganization.
The firm said it has been contacted by Chairman Rodgers related to its recent proposal, but said Rodgers failed to rebut even one of its pro-split arguments.
Chapman reiterated several core components of its reorganization proposal ahead of the 01/27 earnings conference call. 1. "No Firm Cypress Acquisition Bid Was Made Due To Rogers'/Board's Refusal to Solve Rather than Merely Identify Deal Hurdles. 2. "A Premium Bid Over Market Value Is Not Requisite to an "Adequate" Merger Proposal"