Cypress Semiconductor has fattened its takeover offer for the chipmaker Integrated Silicon Solution Inc., coming over the top of a bid from China's Uphill Investment Co.
Cypress on Monday offered $22.25 per share for ISSI, or about $706.7 million, up from its offer last month of $19.25 per share. Cypress said it will also offer an additional 10 cents per share for every quarter it takes to close the deal, starting in October.
Continue Reading Below
Uphill increased its bid to $22 per share last week.
Representatives from ISSI, based in Milpitas, California, did not immediately respond to a request for comment. Attempts to reach Uphill were unsuccessful.
Shares of Cypress Semiconductor Corp., based in San Jose, California, rose 11 cents to $12.79 in morning trading Monday. Shares of ISSI rose 34 cents, or 1.6 percent, to $22.46.