Diodes to Buy Pericom Semiconductor
September 03 2015 - 9:10AM
Dow Jones News
Diodes Inc. has agreed to buy Pericom Semiconductor Corp. for
about $400 million, including the company's cash, creating a
semiconductor company with $1 billion in annual revenue.
The offer of $17 a share is a 40% premium to Pericom's closing
price of $12.18 on Wednesday. Both companies' boards have approved
the deal.
Pericom's shares were halted premarket, while Diodes shares were
inactive.
Plano, Texas-based Diodes makes things like diodes, rectifiers
and transistors for consumer electronics, communications and
automotive markets. Pericom's products include analog, digital and
mixed-signal integrated circuits.
Diodes said the deal will strengthen its analog and mixed-signal
connectivity offerings and add immediately to its per-share
earnings.
The deal is expected to close in the fourth quarter.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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(END) Dow Jones Newswires
September 03, 2015 09:55 ET (13:55 GMT)
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