Diodes To Buy Pericom Semiconductor For About $400 Mln - Quick Facts

(RTTNews) - Semiconductor supplier Diodes Inc. (DIOD) has agreed to acquire Pericom Semiconductor Corp. (PSEM) for a total consideration of about $400 million in cash, the two companies said Thursday. The transaction is expected to close in the fourth quarter of 2015.

At the effective date of the merger, each share of Pericom will be converted into the right to receive $17.00 in cash, without interest. The purchase price represents a 40 percent premium to the closing price on September 2, 2015.

The boards of both companies have approved the transaction, which is still subject to approval by Pericom's shareholders.

The transaction, which will strengthen Diodes' analog product offering and adds an extensive mixed-signal connectivity portfolio, is expected to be immediately accretive to Diodes' reported earnings per share.