Siemens has agreed to buy Mentor Graphics for $37.25 per share in cash, valuing the U.S. software group at $4.5 billion.
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Siemens said on Monday that it expects the deal to result in savings that would lift earnings before interest and tax (EBIT) by more than 100 million euros ($108 million) within four years.
People familiar with the matter had told Reuters that Siemens was nearing a deal to buy Mentor Graphics, which makes software for designing semiconductors, for $4.5 billion to $4.6 billion in cash.
(Reporting by Maria Sheahan; Editing by David Goodman)