Montage Technology Raises Offer For Pericom Semiconductor To $19.00/shr

(RTTNews) - Montage Technology Group Limited announced that it has increased its cash offer to acquire all of the outstanding shares of Pericom Semiconductor Corp. (PSEM) to $19.00 per share from $18.50 per share, valuing the transaction at approximately $442 million and representing a 56% premium to Pericom's unaffected closing price on September 2, 2015.

Montage Technology said "We are raising our offer price to underscore our commitment to consummating this compelling transaction. Through Montage's offer, Pericom shareholders have the opportunity to receive a full $1.25 more per share than they would receive in the inferior Diodes transaction. We also remind Pericom shareholders that a Montage-Pericom transaction would not be subject to any financing or regulatory approval conditions, providing Pericom shareholders with payment promptly following closing of the transaction. "

Montage Technology has urged Pericom shareholders to vote against the Diodes transaction and send a clear message to Pericom that Pericom shareholders want to receive the highest available cash price for their investment.