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© filipefrazao84 dreamstime.com Business | June 12, 2015

The battle over ISSI continues

It looked like the bidding war over ISSI was over, and that Cypress Semiconductor was walking away as the winner. But round two is just about to start.
Integrated Silicon Solution, Inc. (ISSI), has entered into a further amendment to its previously announced merger agreement with Uphill Investment Co ("Uphill").

As a result of the amendment, the merger consideration was increased to USD 21.00 per share in cash, from the USD 20.00 per share in cash pursuant to the agreement of merger dated as of March 12, 2015.

The company will hold a stockholders meeting to consider approval of the Uphil acquisition and related matters on June 19, 2015.

“The ISSI Board of Directors continues to recommend that ISSI's stockholders vote FOR the adoption of the Uphill Agreement,” the company writes in a press release.

ISSI and Uphill amended the Uphill Agreement after ISSI announced yesterday that it had agreed to terms with Cypress Semiconductor to be acquired for a cash purchase price of USD 20.25 per share.

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