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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.
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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CSE was established under the Cyprus Securities and Stock Exchange Law which provides for the development of the securities market in Cyprus and for the establishment and operation of the Cyprus Stock Exchange. It was passed by the House of Representatives in April 1993. Operations began on March 29 1996.
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