Montage Technology Gets Non-Binding Proposal At US$21.5 Per Share - Quick Facts

(RTTNews) - Montage Technology Group Limited (MONT), a global fabless provider of analog and mixed-signal semiconductor solutions addressing the home entertainment and cloud computing markets, announced Monday that its board has received a preliminary non-binding proposal letter, dated March 10, 2014, from Shanghai Pudong Science and Technology Investment Co., Ltd. or PDSTI, a wholly state-owned limited liability company directly under Pudong New Area government of Shanghai, to acquire the company at a price of US$21.5 in cash per ordinary share.

Montage Technology said that its board is reviewing and evaluating PDSTI's proposal. No decision has been made with respect to Montage's response to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.