Pericom Urges Shareholders To Vote FOR Merger Agreement With Diodes

(RTTNews) - Pericom Semiconductor Corp. (PSEM) announced that its Board of Directors sent a letter to its shareholders urging them to vote "FOR" the previously announced merger agreement with Diodes Inc. (DIOD), pursuant to which Pericom shareholders are entitled to promptly receive $17.00 per share in cash, subject only to Pericom shareholder approval.

The letter addresses the Board's significant concerns with the clear and fundamental risks associated with the offer made by Montage Technology Group Limited , including risks and uncertainties regarding Montage's ability (or unwillingness) to obtain financing and regulatory approvals for an acquisition of Pericom and Montage's ability to ultimately close a transaction with Pericom in a timely fashion, if at all.

The letter to shareholders also responds to and clarifies a number of misleading statements that Montage has repeatedly made in communications to Pericom shareholders in its effort to conceal the significant risks associated with Montage's offer.

In connection with the Special Meeting which is scheduled to be held on November 20, 2015, Pericom has filed an investor presentation with the U.S. Securities Exchange Commission detailing the rationale for the Board's unanimous approval of the Diodes Agreement and the Board's unanimous decision to reject the inferior offer from Montage based on the significant and unacceptable risks associated with that offer.

The Special Meeting is being called primarily to seek shareholder approval of the Diodes Agreement. Pericom shareholders of record as of the close of business on September 22, 2015 are entitled to vote at the Special Meeting.