Mentor's

Earlier this month, Mr. Icahn said he intended to nominate at least three people for slots on Mentor's board, while reserving the right to nominate as much as a full slate.

Icahn Makes $1.91 Billion Bid for Mentor Graphics Shara Tibken 2011

Casablanca also said it intended to nominate directors to Mentor's board, though it has made every effort to say it isn't coordinating activist efforts with Mr. Icahn.

Icahn Makes $1.91 Billion Bid for Mentor Graphics Shara Tibken 2011

Mr. Icahn and another Mentor investor, Casablanca Capital LLC, have criticized Mentor's management for hurting shareholders and wasting money.

Icahn Makes $1.91 Billion Bid for Mentor Graphics Shara Tibken 2011

Casablanca, meanwhile, owns about 5.5% of Mentor's stock.

Icahn Makes $1.91 Billion Bid for Mentor Graphics Shara Tibken 2011

Mentor's products that lose money could be shuttered, for instance.

Icahn's Clever Play Rolfe Winkler 2011

Last month, Mr. Icahn said he intended to nominate at least three people for slots on Mentor's board, while reserving the right to nominate up to a full slate.

Mentor Graphics Rejects Icahn's $1.91 Billion Bid Shara Tibken 2011

Casablanca also said it intended to nominate directors to Mentor's board, although it has made every effort to say it isn't coordinating activist efforts with Mr. Icahn.

Mentor Graphics Rejects Icahn's $1.91 Billion Bid Shara Tibken 2011

For example, only 58 percent of women enrolled in a 1,000-patient study of Mentor's implants are still accounted for after eight years.

FDA concludes silicone breast implants mostly safe 2011

Mr. Icahn and another Mentor investor, Casablanca Capital LLC, have criticized Mentor's management for hurting shareholders and wasting money.

Mentor Graphics Rejects Icahn's $1.91 Billion Bid Shara Tibken 2011

If Cadence is able to easily integrate Mentor's tools into its system, it would be a smart acquisition, Mr. Bruggeman said, but if integration would prove too difficult, it wouldn't make sense.

Icahn Makes $1.91 Billion Bid for Mentor Graphics Shara Tibken 2011