Pericom shareholders approve Diodes bid

Reuters News
Posted: Nov 20, 2015 2:28 PM

(Reuters) - Chipmaker Pericom Semiconductor Corp shareholders approved Diodes Inc's $413 million bid, rejecting Chinese company Montage Technology's higher offer.

Pericom said a majority of shares cast in a special shareholder meeting were in favor of the Diodes offer.

Montage raised its bid to about $442 million on Wednesday.

(Reporting by Anya George Tharakan in Bengaluru)