- A day after Cypress (NASDAQ:CY) made a $22.60/share bid for Integrated Silicon (ISSI) declared to be its "best and final offer," ISSI says it has "determined that the revised proposal from Cypress does not constitute, and would not be reasonably expected to lead to a Superior Proposal" relative to a $23.00/share offer from Chinese investor group Uphill.
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ISSI +1.1% premarket to $22.25. The company will host a special meeting at 5PM ET on Monday to vote on the Uphill deal.
- Separately, Cypress has announced a TrueTouch touch controller IC design win for Huawei's MediaPad X2 7" Android tablet. The company states the X2 is "the industry's thinnest tablet with a 7-inch display at just 7.18 mm thick, enabled in part by the TrueTouch solution's capability to support ultra-thin stackup layers in the touchscreen."