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ISSI receives Taiwanese clearance for sale; closing expected soon

  • Taiwanese regulators have approved the restructuring of Integrated Silicon's (NASDAQ:ISSI) local ops, clearing the way for the company to be sold to Chinese investor group Uphill for $23/share.
  • Chinese regulators have also (as expected) approved the deal, which is now expected to close "on or prior to" Dec. 10.
  • ISSI closed today at $22.76. Two months ago, the company sold its Taiwanese Chingis subsidiary to MediaTek for $27.1M to pave the way for regulatory approval.

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ISSI--
Integrated Silicon Solution, Inc.