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Mentor Graphics (NASDAQ:MENT) confirmed it received an unsolicited conditional proposal from Carl Icahn and the Icahn Group for all outstanding shares of the company for $17 per share in cash. The board of directors will review the Icahn Group's conditional proposal including any trade regulation limitations that may apply to alternate proposals and make a recommendation to shareholders. Mentor Graphics is currently above its 50-day moving average (MA) of $12.69 and above its 200-day of $10.61.