Wednesday evening, California-based Cypress Semiconductor Corporation (NYSE:CY) announced that a merger between its subsidiary Copper Acquisition Corporation and Simtek Corporation had been completed. The new subsidiary of Cypress Semiconductor was purchased through a deal worth approximately $46 million. Outstanding shares of Simtek are to be distributed to shareholders in cash for $2.60 per share. Cypress Semiconductor Corporation ended the day with shares down 86 cents to $24.78.

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