Reginal Thomas
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Montage Technology Group Raised its offer for Pericom

Montage Technology Group Ltd, a privately held chipmaker, has raised its offer for Pericom Semiconductor Corp to $442 million, topping Diodes Inc’s $413 million offer.

On Wednesday Montage said it would now offer $19 per share in cash for Pericom, $0.50 more than the $18.50 offer it originally offered on September 30. Shares for Pericom rose 3% to $18.22 in premarket trading.

Diodes raised its offer to $17.75 from $17 and announced it tied up financing for the offer from Bank of America.