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SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. )
Filed by the Registrant [X]
Filed by a Party other than the Registrant [_]
Check the appropriate box:
[_] Preliminary Proxy Statement [_] Confidential, for Use of the
Commission Only (as permitted by
Rule 14a-6(e)(2))
[_] Definitive Proxy Statement
[X] Definitive Additional Materials
[_] Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12
Quickturn Design Systems, Inc.
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
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(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
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[_] Fee paid previously with preliminary materials.
[_] Check box if any part of the fee is offset as provided by Exchange
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Notes:
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[QUICKTURN LOGO]
October 19, 1998
Dear Fellow Quickturn Stockholder:
PARTICIPATE IN QUICKTURN'S BRIGHT FUTURE
DON'T BE STAMPEDED INTO GIVING YOUR PROXY TO MENTOR
SIGN, DATE AND MAIL QUICKTURN'S BLUE PROXY CARD TODAY
To further its attempt to take over your company at what your Board of
Directors has determined is an inadequate price, Mentor Graphics Corporation
is asking you and other stockholders to help replace the Quickturn Board with
its own slate of director nominees. The primary intent of Mentor's nominees is
to facilitate Mentor's takeover of Quickturn -- not to run your company.
In spite of its inadequate offer, Mentor has sent to you, and will no doubt
persist in sending you, GOLD proxy cards in connection with a special
stockholder meeting. YOUR BOARD URGES YOU TO DISREGARD AND THROW AWAY ANY
MENTOR GOLD PROXY CARD SENT TO YOU.
YOUR BOARD STRONGLY RECOMMENDS THAT YOU VOTE QUICKTURN'S BLUE PROXY CARD to
support your Board that will continue to ensure that your best interests --
and not Mentor's -- are served. YOUR BOARD STRONGLY RECOMMENDS THAT YOU VOTE
AGAINST MENTOR'S PROPOSALS ON THE BLUE PROXY CARD TODAY. Only the latest
signed and dated proxy card is counted.
THE QUICKTURN BOARD HAS BEEN WORKING DILIGENTLY ON BEHALF OF THE COMPANY AND
ITS STOCKHOLDERS. Your Board's rejection of Mentor's offer affirms its
continued confidence in Quickturn's future and its determination that
stockholders should be given every opportunity to participate fully in that
future.
WHEN IT COMES TO PERFORMANCE,
QUICKTURN'S EARNINGS SPEAK FOR THEMSELVES
We want stockholders to see our results and we want you to know that our
customers continue to support Quickturn and our premier technology. For the
third quarter ending September 30, 1998 QUICKTURN EXCEEDED CONSENSUS ANALYSTS'
ESTIMATES. Net income for the third quarter was $735,000, or $0.04 per share,
compared to consensus analysts' estimates of a loss of $0.03 per share.*
Another indication of Quickturn's bright future is that during the third
quarter, several key customers continued their reinvestment in design and
verification, including new design programs from several multibillion-dollar
companies. As we enter the fourth quarter, Quickturn has the strongest backlog
we've seen this year. CUSTOMER ORDERS TRANSLATE INTO STOCKHOLDER VALUE, and we
believe that our value will grow even more as our breakthrough Mercury(TM)
product and the enhancements to our CoBALT(TM) and SpeedSim(TM) products reach
full production by the end of 1998. We are confident that we will see more
projects started by our customers in the fourth quarter of 1998 and well into
1999.
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MENTOR'S OCTOBER 29 MEETING DATE IS NOT VALID
MENTOR IS ATTEMPTING TO CAUSE CONFUSION AMONG QUICKTURN STOCKHOLDERS by
calling a special stockholder meeting for October 29, 1998 to vote on its
nominees. Quickturn believes that Mentor's meeting date is not valid.
We are challenging the validity and legality of Mentor's attempt to call the
special meeting as well as its ability to set the meeting date, record date
and the place of the special meeting. Each of these matters is the subject of
ongoing litigation between the company and Mentor. Subject to the resolution
of this litigation, the Quickturn Board has set Friday, January 8, 1999 as the
date for the special stockholder meeting, in accordance with the company's
Bylaws.
VOTE AGAINST MENTOR'S PROPOSALS
VOTE FOR QUICKTURN'S FUTURE
VOTE THE BLUE PROXY CARD
If you have any questions, or need any assistance in voting AGAINST Mentor's
proposals on the BLUE proxy card, please call our proxy solicitor, Morrow &
Co. Inc., toll-free, at 1-800-662-5200.
On Behalf of the Board of Directors,
/s/ Keith R. Lobo
Keith R. Lobo
Chief Executive Officer and President
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* Excluding the legal and advisory expenses of approximately $4.0 million, or
$0.13 per share, net of tax, related to Quickturn's defense against Mentor's
attempted hostile takeover.
Quickturn, the Quickturn logo, Mercury, SpeedSim, and CoBALT are registered
trademarks or trademarks of Quickturn Design Systems, Inc.
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QUICKTURN DESIGN SYSTEM
STOCKHOLDERS
Your Board recommends a vote "AGAINST"
the Mentor Proposals listed on the enclosed BLUE proxy card
If you wish to support Quickturn's Board and Management
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vote AGAINST the Mentor Proposals
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PLEASE MARK "AGAINST" ON YOUR BLUE PROXY CARD
