Wednesday, January 24, 2007

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"

Link to Press Release

Link to Past Chapman activity on CY

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Anonymous Anonymous said...

Chapman is a rude asshole. His points about restructuring are valid but the way he and his flunkies chose to express them on the earnings conference call were pathetic. Ad hominem attacks against TJ Rogers are just wrong - factually and behaviorally.

2:32 PM  

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