An investigation on behalf of investors of Pericom Semiconductor (NASDAQ:PSEM) in connection with the proposed takeover was announced and NASDAQ:PSEM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/29/2015 -- An investigation for shareholder, who currently hold NASDAQ:PSEM shares, was announced concerning whether the takeover of Pericom Semiconductor by Diodes Incorporated for $17.00 per share is unfair.
Investors who purchased shares of Pericom Semiconductor (NASDAQ:PSEM) and currently hold any of those NASDAQ:PSEM shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Pericom Semiconductor breached their fiduciary duties owed to NASDAQ:PSEM investors in connection with the proposed acquisition.
On September 3, 2015, Diodes Incorporated (Nasdaq: DIOD) and Peric Pericom Semiconductor (NASDAQ:PSEM) announced that Diodes Incorporated and Pericom have entered into an Agreement and Plan of Merger that provides for the acquisition of Pericom by Diodes. Under the terms of the proposed transaction, each share of Pericom Semiconductor (NASDAQ:PSEM) will be converted into the right to receive $17.00 in cash, without interest.
However, the investigation concerns whether the offer is unfair to NASDAQ:PSEM stockholders. More specifically, the investigation concerns whether the Pericom Semiconductor Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Pericom Semiconductor reported that its Total Revenue rose from $128.07 million for the 12 months period that ended on June 28, 2014 to $128.84 million for the 12 months period that ended on June 27, 2015 and that its Net income increased from $4.12 million to $11.82 million. Shares of Pericom Semiconductor (NASDAQ:PSEM) grew from $7.03 per share in August 2013 to as high as $160.7 per share in March 2015.
On September 25, 2015, NASDAQ:PSEM shares closed at $17.28 per share.
Those who are current investors in Pericom Semiconductor shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego