Ramtron board rejects higher Cypress offer

In the past two years, Cypress Semiconductors has made three offers to buy its smaller competitor Ramtron International. In June, Cypress raised its offer from $2.48 per share to $2.68, but Ramtron's board determined that the offer was "inadequate," and "is not in the best interest of Ramtron and its stockholders." Ramtron's market position is based on their strong memory and wireless offerings. As semiconductor companies continue to see growth this year, Cypress is going to have to make the deal significantly sweeter if it expects Ramtron to bite.