GSI Again Gets $6.50/shr Acquisition Offer From GigOptix - Quick Facts

(RTTNews) - Memory chip maker GSI Technology, Inc. (GSIT) announced it received an unsolicited, non-binding and conditional proposal from GigOptix, Inc. (GIG) on Thursday to acquire the company for $6.50 per share, consisting of a combination of GigOptix common stock and cash, including a special dividend.

GSI said the proposal appears to be similar to a previous proposal rejected by GSI Technology's Board in September 2014.

GSI had in September rejected GigOptix's similar unsolicited, non-binding and conditional proposal to buy the company for a consideration of $6.50 per share, or about $161 million in cash, stock and special dividend.

However, the GSI Board said it will promptly and carefully review and consider the latest GigOptix proposal consistent with its fiduciary duties and in consultation with its financial and legal advisors.

Following its review, the GSI Technology Board will respond to the proposal and advise its stockholders of the Board's response.