HART-SCOTT-RODINO WAITING PERIOD EXPIRES FOR MERGER OF CADENCE DESIGN SYSTEMS AND VALID LOGIC SYSTEMS
HART-SCOTT-RODINO WAITING PERIOD EXPIRES FOR MERGER
OF CADENCE DESIGN SYSTEMS AND VALID LOGIC SYSTEMS
SAN JOSE, Calif., Nov. 18 /PRNewswire/ -- Cadence Design Systems, Inc. (NYSE: CDN) and Valid Logic Systems Incorporated (NASDAQ: VLID) announced that the Hart-Scott-Rodino waiting period for the proposed merger of Valid into Cadence expired at midnight Saturday, Nov. 16, 1991, without action by the Federal Trade Commission. The merger is subject to approval by the stockholders of each company and certain other conditions. The merger of the two companies is expected to be completed by the end of December 1991.
Cadence Design Systems, Inc., is a leader in the design, development and marketing of software solutions primarily for the design of integrated circuits, with offices throughout the U.S., Europe and Asia. Cadence is headquartered in San Jose, Calif.
Valid Logic Systems Incorporated is a leading supplier of electronic design automation software used to develop electronic systems and printed circuit boards, with sales and support operations in more than 40 locations worldwide. Valid is headquartered in San Jose, Calif.
/CONTACT: Leonard J. LeBlanc of Cadence Design Systems, 408-944-7345, or Thomas F. Kelly of Valid Logic Systems, 408-944-8081/
(CDN VLID) CO: Cadence Design Systems, Inc.; Valid Logic Systems Incorporated ST: California IN: CPR SU: TNM JT -- NY007 -- 1224 11/18/91 08:30 EST