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January 27, 2014
09:31 EDTISSIIntegrated Silicon downgraded to Hold from Buy at Feltl
Feltl downgraded Integrated Silicon based on high expectations ahead of the January 29 report and valuation. Price target is $13.
News For ISSI From The Last 14 Days
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May 28, 2015
08:09 EDTISSIIntegrated Silicon provides update on acquisition discussions
Integrated Silicon (ISSI) provided an update on its discussions regarding the unsolicited offer from Cypress Semiconductor (CY) proposing to acquire all of the outstanding common stock of ISSI for $19.75 per share in cash and on the status of the pending acquisition of ISSI by Uphill Investment Co. for $19.25 per share in cash pursuant to the Agreement and Plan of Merger dated as of March 12, 2015. As previously announced, upon receiving the Cypress offer, the ISSI board determined in good faith, after consultation with ISSI's financial advisor and outside legal counsel, that the Cypress offer either constitutes or is reasonably expected to lead to a Superior Proposal, and that the failure to participate or engage in discussions or negotiations with Cypress and/or furnish information to Cypress would reasonably be expected to be inconsistent with its fiduciary duties to the company stockholders under Delaware Law. Following the ISSI Board determination, ISSI and Cypress executed a confidentiality agreement on May 19, 2015 and Cypress has been conducting due diligence since such date. In connection with this due diligence, ISSI management has met several times with Cypress management and ISSI has provided Cypress with access to an electronic data-room containing requested documents. ISSI intends to continue to cooperate with Cypress with respect to due diligence subject to the terms of the Uphill Agreement and applicable law. There can be no assurance as to the outcome of any discussions with Cypress, including whether such discussions will result in any transaction or what the terms of such transaction will be. The objective of the ISSI Board is to maximize stockholder value consistent with its fiduciary duties under applicable law.As a result of the ongoing discussions and due diligence with Cypress and the lack of a quorum, ISSI is announcing a delay in its Special Meeting of Stockholders which was scheduled to be held on June 3, 2015. ISSI plans to announce a new meeting date as soon as practicable. ISSI is continuing to comply with the terms of the Uphill Agreement. In particular, Uphill made a pre-filing with CFIUS on May 19, 2015 and plans to make a formal submission as soon as practical. In addition, the restructuring of ISSI's operations in Taiwan is progressing. Pending the outcome of the discussions with Cypress and the satisfaction of the conditions to closing in the Uphill Agreement, the transaction is still expected to close in the third calendar quarter of 2015.
07:28 EDTISSIBenchmark Company to hold a conference
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May 19, 2015
19:31 EDTISSIStarboard issues letter to Integrated Silicon, says may seek board replacement
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May 18, 2015
16:28 EDTISSICypress Semiconductor sends letter to CFO of Integrated Silicon Solution
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10:10 EDTISSIHigh option volume stocks
May 15, 2015
16:31 EDTISSIStarboard Group delivers letter to Integrated Silicon Solution
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09:03 EDTISSIIntegrated Silicon confirms unsolicited offer from Cypress for $19.75 per share
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