Montage Technology raises offer for Pericom to about $442 million

Reuters News
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Posted: Nov 18, 2015 8:58 AM

(Reuters) - Privately held chipmaker Montage Technology Group Ltd raised its offer for Pericom Semiconductor Corp <PSEM.O> to about $442 million, trumping Diodes Inc's <DIOD.O> $413 million offer.

The offer comes a week after Pericom asked shareholders to vote for a merger with Diodes, saying Montage deal lacked committed financing and could face significant regulatory scrutiny.

(Reporting by Kshitiz Goliya in Bengaluru; Editing by Kirti Pandey)