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In March 2015, Cypress and Spansion completed of the transactions of the merger in an all-stock, tax-free transaction valued at approximately $5 billion. Cypress shareholders approved the issuance of 2.457 shares of Cypress stock to Spansion shareholders for each Spansion share they own.
Cypress Semiconductor (CY) closed at $12.16 in the latest trading session, marking a -1.22% move from the prior day.
Cyprus Amax Minerals was a major US-based mining company formed in 1993 through the merger of AMAX with the Cyprus Minerals Company. It was one of the world's largest producers of Molybdenum and Lithium and a leading producer of copper and coal.
Cypress Semiconductor Simtek Corporation , headquartered in Colorado Springs, CO , was an early leader in the development of SONOS memory technology which it used in its nvSRAM product line which featured a SONOS Flash memory coupled with an SRAM shadow memory to achieve both speed and non-volatility.
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The companies valued the deal at $4 billion. They expected it to close in the first half of 2015 and to cut annual costs by $135 million within three years. Cypress President and CEO TJ Rodgers was the CEO of the combined company, which was expected to have $2 billion in annual revenue. Spansion Chairman Ray Bingham was the non-executive chairman.
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