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Short Take: Cadence rescinds stock buy-back plan

Cadence Design Systems rescinded its stock buy-back program in order to comply with Securities and Exchange Commission rules regarding its proposed merger with Cooper & Chyan Technology. Cadence will proceed with its systematic stock repurchases for the company's employee stock purchase plan. The merger is set to be finalized May 7.

Cadence Design Systems rescinded its stock buy-back program in order to comply with Securities and Exchange Commission rules regarding its proposed merger with Cooper & Chyan Technology. Cadence will proceed with its systematic stock repurchases for the company's employee stock purchase plan. The merger is set to be finalized May 7.