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SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
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Quickturn Design Systems, Inc.
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CONTACTS:
QUICKTURN DESIGN SYSTEMS, INC. ABERNATHY MACGREGOR FRANK
Joan Powell Pauline Yoshihashi
Director, Marketing Communications (213) 630-6550
(408) 914-6701 Matt Sherman
[email protected] (212) 371-5999
FOR IMMEDIATE RELEASE
QUICKTURN RESPONDS TO MENTOR GRAPHICS' EXTENSION OF ITS UNSOLICITED TENDER
OFFER
QUICKTURN'S BOARD CONTINUES TO STRONGLY RECOMMEND THAT QUICKTURN STOCKHOLDERS
NOT TENDER THEIR SHARES
SAN JOSE, CALIF. (OCTOBER 7, 1998)--Quickturn Design Systems, Inc. (Nasdaq:
QKTN) today responded to Mentor Graphics Corporation's (Nasdaq: MENT)
extension of its tender offer, which was scheduled to expire October 6, 1998,
but was extended by Mentor without its purchasing any shares tendered. Mentor
continues to own only 591,500 shares of Quickturn stock.
On August 24, 1998, the Quickturn board of directors recommended Quickturn
stockholders to reject Mentor's unsolicited tender offer. The board determined
that Mentor's offer is inadequate, does not reflect the inherent value of the
Company, and is not in the best interests of Quickturn or its stockholders.
Quickturn's board continues to strongly recommend that Quickturn stockholders
not tender their shares to Mentor and urges Quickturn stockholders who may
have tendered to withdraw their shares.
Quickturn Design Systems, Inc. is the leading provider of verification
products and time-to-market engineering (TtME(TM)) services for the design of
complex ICs and electronic systems. The company's products are used worldwide
by developers of high-performance computing, multimedia, graphics and
communications systems. Quickturn is headquartered at 55 W. Trimble Road, San
Jose, CA 95131-1013; Telephone: 408/914-6000. For more information, visit the
Quickturn Web site at www.quickturn.com or send e-mail to [email protected].
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