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May 8, 1997updated 05 Sep 2016 12:23pm

CADENCE SUSPENDS STOCK REPURCHASE

By CBR Staff Writer

Cadence Design Systems Inc is suspending its previously announced stock repurchase program to protect the use of pooling of interests accounting for the previously announced merger with Cooper & Chyan (CI No 3,030). The more favorable accounting treatment cannot be used if the shares issued to merge the two companies are simply re-purchased again post merger. Cadence provides software tools and professional services for the design of semiconductors and computer systems. Cooper & Chyan develops fast circuit interconnection software to complement Cadence’s circuit design software.

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