Cadence Fades on Buyout Fizzle
The company and private equity can't meet on price.
Investors showed their disappointment in
Cadence Design Systems
(CDNS) - Get Report
Monday, following a report that no buyout deal would be forthcoming for the San Jose, Calif., company.
Shares dropped $1.12, or 4.8%, to $22.18 on heavy volume by early afternoon.
Negotiations with private-equity firms
Kohlberg Kravis Roberts
and
Blackstone Group
stalled when the parties could not agree on a price, according to
The New York Times
.
Cadence, which makes chip design software, has a market cap of $6.2 billion.
