Montage Technology offers to buy Pericom

Reuters News
Posted: Sep 30, 2015 7:20 AM

(Reuters) - Analog chip maker Montage Technology Group Ltd said it has offered to buy Pericom Semiconductor Corp in a deal valued at $430 million.

Montage Technology's all-cash offer of $18.50 per share is at a premium of 9.5 percent to Pericom's Tuesday close of $16.90.

Earlier this month, chipmaker Diodes Inc proposed to buy Pericom in a deal valued at about $400 million to boost its analog and mixed-signal chip businesses.

(Reporting By Lehar Maan in Bengaluru; Editing by Anil D'Silva)