November 20, 2015 / 7:35 PM / 2 years ago

Pericom shareholders approve Diodes bid

(Reuters) - Chipmaker Pericom Semiconductor Corp shareholders approved Diodes Inc’s $413 million bid, rejecting Chinese company Montage Technology’s higher offer.

Pericom said a majority of shares cast in a special shareholder meeting were in favor of the Diodes offer.

Montage raised its bid to about $442 million on Wednesday.

Reporting by Anya George Tharakan in Bengaluru

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