Law360, New York (September 3, 2015, 6:54 PM EDT) -- Semiconductor supplier Diodes Inc. said Thursday it has agreed to buy Silicon Valley-based Pericom Semiconductor Corp. for about $400 million in a deal guided by Sheppard Mullin Richter & Hampton LLP and Latham & Watkins LLP that it says will boost its product offerings.
The acquisition is worth $17 per Pericom share, representing a 40 percent premium based on Wednesday’s closing price of $12.18. The boards of both companies have approved the deal, which is expected to close in the fourth quarter pending shareholder and regulatory approval.
Diodes CEO Keh-Shaw Lu said in a statement the deal helps Diodes, which makes...
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