MILPITAS, Calif.--(BUSINESS WIRE)--Montage Technology Group Limited (“Montage”) today issued the following statement in response to a report issued by proxy advisory firm Glass, Lewis & Co. (“Glass Lewis”) dated November 11, 2015. Montage notes independent proxy voting and corporate governance advisory firm Egan-Jones Proxy Services (“Egan Jones”) has recommended that Pericom shareholders vote AGAINST the proposed Diodes transaction at the special meeting of Pericom shareholders on November 20, 2015.
Montage issued the following statement:
We strongly believe that Glass Lewis reached the wrong conclusion in failing to recommend that Pericom shareholders vote AGAINST the proposed Diodes transaction. Montage urges Pericom shareholders to vote AGAINST the Diodes proposal on the GOLD proxy card and preserve their right to pursue a financially superior $18.50 per share binding offer from Montage.
Montage reminds Pericom shareholders that its offer is not subject to any regulatory or financing conditions and will provide Pericom shareholders with immediate payment upon closing, the same timing as the Diodes proposal. We urge Pericom shareholders to act in their own best interests and stop the Pericom Board from proceeding with the inferior Diodes transaction.
VOTE THE GOLD PROXY CARD TODAY!
As the meeting is fast approaching, Montage urges Pericom shareholders to protect the value of their investment by voting “AGAINST” the Diodes acquisition proposal on the GOLD proxy card TODAY.
EVERY VOTE IS IMPORTANT, NO MATTER HOW MANY OR HOW FEW SHARES.
Shareholders who have questions or need assistance voting their shares may contact:
INNISFREE M&A INCORPORATED
+ (888) 750-5834 (toll-free from the US and Canada)
+ (412) 412-232-3651 (from other countries)
Remember—only the latest-dated proxy card counts!
Barclays is acting as financial advisor to Montage and O'Melveny & Myers LLP is serving as legal counsel.
Montage and its directors, executive officers and certain employees may be deemed, under rules of the Securities and Exchange Commission ("SEC"), to be participants in the solicitation of proxies from Pericom shareholders in connection with Pericom’s Special Meeting of Shareholders. Information about the interests in Pericom of Montage and its directors, executive officers and employees are set forth in a definitive proxy statement that was filed with the SEC on October 26, 2015 (the “Montage Proxy”).
Investors are urged to read in its entirety the Montage Proxy which is available now and any other relevant documents filed with the SEC when they become available, because they contain (or will contain) important information. The Montage Proxy, and any other documents filed by Montage with the SEC, may be obtained free of charge at the SEC web site at www.sec.gov. The Montage Proxy and such other documents may also be obtained free of charge by contacting Innisfree M&A Incorporated, Montage’s proxy solicitor, toll-free at: (888) 750-5834 or 501 Madison Avenue, 20th Floor, New York, New York 10022.
Montage is a global fabless provider of analog and mixed-signal semiconductor solutions currently addressing the home entertainment and cloud computing markets. In the home entertainment market, Montage's technology platform enables the Company to design highly integrated end-to-end solutions with customized software for set-top boxes. These solutions optimize signal processing performance under demanding operating conditions typically found in emerging marketing environments. In the cloud computing market, Montage offers high performance, low power memory interface solutions that enable memory intensive server applications. Its technology platform approach allows Montage to provide integrated solutions that meet the expanding needs of customers through continuous innovation, efficient design and rapid product development. For more information regarding Montage please visit the Company's website at www.montage-tech.com.