Cypress Semiconductor: Chapman Capital Reiterates Reorg Demand

Jan.25.07 | About: Cypress Semiconductor (CY)

Activist investor Chapman Capital has reiterated its demand for a Cypress Semiconductor Corporation (NASDAQ: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"