Cypress Semiconductor boosts bid for chipmaker Integrated Silicon Solution Inc.;

IndustriesAssociated Press

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.

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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.