Prophet Equity To Buy Silicon Storage For $201M

Law360, New York (November 13, 2009, 3:20 PM EST) -- Prophet Equity LP has agreed to acquire Silicon Storage Technology Inc. for $201 million in a plan to take the flash memory manufacturer private.

Technology Resource Holdings Inc., a subsidiary of Prophet Equity, has signed a definitive merger agreement to acquire all of the SST's outstanding common stock at $2.10 per share, except for shares owned by SST chairman and CEO Bing Yeh and executive vice president and Chief Operating Officer Yaw Wen Hu, according to a statement from SST.

Yeh and Hu — who currently...
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