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Montage Technology Group
Limited
MONT ("Montage"), a global fabless provider of analog and
mixed-signal semiconductor solutions addressing the home entertainment and
cloud computing markets, today announced that its Board of Directors (the
"Board") has received a preliminary non-binding proposal letter, dated March
10, 2014, from Shanghai Pudong Science and Technology Investment Co., Ltd.
("PDSTI"), a wholly state-owned limited liability company directly under
Pudong New Area government of Shanghai. According to the proposal letter,
PDSTI proposed to acquire all of Montage's outstanding ordinary shares at a
price of US$21.5 in cash per ordinary share.
The 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. Montage does not undertake any obligation to provide any updates
with respect to this or any other transaction, except as required under
applicable law.
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