Actionable news
All posts from Actionable news
Actionable news in PSEM: Pericom Semiconductor Corporation,

Pericom Semiconductor: Pericom Shareholders Approve Merger With Diodes

The following excerpt is from the company's SEC filing.

Transaction Expected to Close as Early as Next Week Following Final Certification

of Results by Independent Inspector of Elections

Combination Will Broaden Pericoms Diverse Range of Product Offerings

and Expand International Customer Base

Milpitas, CA November 20, 2015

Pericom Semiconductor Corporation (Pericom or the Company) (NASDAQ: PSEM) announced today that, based on a preliminary count of the votes cast at the Companys Special Meeting of Shareholders held this morning, Pericom shareholders have approved the previously announced Agreement and Plan of Merger be tween Diodes Incorporated (Diodes) (NASDAQ: DIOD) and Pericom (the Agreement).

Based on the preliminary count by MacKenzie Partners, Inc., Pericoms proxy solicitor, approximately 15.4 million shares were voted in favor of the Agreement, or 70.3% of the total shares outstanding and 93.2% of the total shares voted. As of September 22, 2015, the record date for the Special Meeting, there were approximately 21.9 million shares of Pericom common stock outstanding.

We are extremely pleased with the outcome of todays vote, said Alex Hui, Chairman and CEO of Pericom. The Pericom Board of Directors and management team recognize and appreciate the support and patience of our shareholders throughout this process, and we are eager to reward them with the value they deserve. We look forward to joining the Diodes family. The combined companys expanded size and...