Electronic design software maker Cadence Design Systems disclosed Tuesday it has offered $16 a share for rival Mentor Graphics of Wilsonville, Ore.

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Electronic design software maker Cadence Design Systems disclosed Tuesday it has offered $16 a share for smaller rival Mentor Graphics, after failing to agree on deal privately for nearly two months.

Based on Mentor’s shares outstanding as of June 2, the offer is worth $1.45 billion. A representative for Wilsonville, Ore.-based Mentor Graphics could not immediately be reached for comment Tuesday morning.

San Jose, Calif.-based Cadence said the offer is not subject to any financing condition. The per-share price represents a nearly 30 percent premium to Mentor’s closing stock price on Monday. Cadence said its offer includes the assumption of $69 million of debt.

Mentor shares climbed $2.99, or 24.3 percent, to $15.32 in morning trading Tuesday. Cadence shares were fell 58 cents, or 5 percent, to $11.01.

Caddence said it first made the proposal to Mentor on May 2.

A combined company, Cadence added, would offer a broader range of products and a more fully integrated technology portfolio. Both companies make electronic design automation software and hardware, which is used to design and test semiconductors, printed circuit boards and systems used in consumer electronics and other products.

In a letter to Mentor’s chairman and chief executive, Walden C. Rhines, on Tuesday, Cadence President and CEO Michael J. Fister said it is still the company’s preference to bring the companies together “through a negotiated transaction.”

But, he added, “given Mentor Graphics’ refusal to engage in substantive discussions,” Cadence has decided to make its proposal public. Fister said he first spoke about a possible deal on April 16, two weeks before presenting the $16-per-share offer.

Fister said in an interview he is “confident that the Cadence and Mentor teams would make this a big success.”

Cadence, he added, has not been able to get substantial negotiations going with Mentor, which has said it wants to stay independent.