( ESNUG 559 Item 4 ) -------------------------------------------- [04/22/16]
Subject: Joe Sawicki on Mentor's relationship with Carl Icahn this year
DAC'15 Troublemakers Panel in San Francisco, CA
Cooley: Joe?
Sawicki: Yes, sir.
Cooley: What's Mentor's relationship with Carl Icahn this year?
Sawicki: I was just talking to someone earlier on this. If I'm
remembering correctly, Carl's average buy price was eight.
We're at 27. He loves us.
Cooley: What would happen if he sold?
Sawicki: Probably not much at this point. He's got an interesting
aspect -- there are reporting requirements that are fairly
stringent at his level. I think from 15% ownership down to 5%
ownership, you have probably have to declare every percent or
two percent or something like that. So he has to talk a lot
as he goes out.
But, I mean, at this point, we got a really interesting position
in MENT stock. We're one of the only technical software
companies on the planet that pays a dividend. So we get
investors from that side of the house and people that scream
from that. We've got a really good growth story the last few
years. We've got increased profitability. Our stocks in fine
shape. We're at a historic high. Life's good.
Cooley: So actually it was good Carl Icahn came and trashed MENT management?
Sawicki: You know, OK, Carl trashed Mentor management because there is
theater involved in all of these things. Within 6 months of him
having people on the board, the comments were more positive
about how well-managed the company was. The last shareholder
that was elected on the dissident slate, resigned, not in anger,
just resigned because he's got other things that are more
important things for him to be dealing with. He was off the
board about 6 months ago and we now have a completely different
board than we did before. There's no dissident shareholder
votes there.
Yeah, I mean and Icahn's still holding onto the stock and is
doing well on it. So you know and I think about 6 months ago,
Carl actually stopped having had approval on my release plans.
[audience laughs.] So that was good...
---- ---- ---- ---- ---- ---- ----
Related Articles
Sanjiv on High Level Synthesis (HLS), C-based design, and Calypto
Anirudh on CDNS Innovus, SNPS ICC2, Atoptech, MENT Olympus PnR
Amit on the SPICE wars, fast vs. pure, and SPICE user survey data
Joe Sawicki on Mentor's relationship with Carl Icahn this year
Why CDNS and MENT didn't bother to bid on the Atrenta acquisition
Join
Index
Next->Item
|
|
