SiliconBeat

Actel, the Mountain View chip maker, extended the deadline for director nominations a second time at the request of one of its largest shareholders, Ramius, a New York-based “alternative” investment firm that offered a detailed critique of Actel’s business back in November,

Actel first extended the deadline on Feb. 13 by a week to Feb. 20 but the day before that deadline the board extended it once again, at the investors request. The new deadline is this coming Friday.

Ramius concluded in November that Actel needs to do something about its Flash business, which its says is a drag on the company, weighing down its shareholder value. Ramius estimated that the development of the Flash division and its losses have cost around $300 million, which is more than Actel is currently valued by Wall Street.