Benzinga's M&A Chatter for Wednesday November 18, 2015

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday November 18, 2015:

:

Pericom Semiconductor Corporation

announced Wednesday, that its Board of Directors has unanimously rejected the unsolicited revised offer that Pericom received from Montage Technology Group on November 18, 2015 of $19.00 per share. The previous offer had been $18.50 per share. The Pericom Board determined that Montage's revised offer has significant, including financing, regulatory and other risks, while the $17.75 per share offer from Diodes

has committed financing, from a U.S. bank. Pericom shares rose 1.36% Wednesday, closing at $17.90.

:

ON Semiconductor Corporation

and Fairchild Semiconductor International Inc.

announced Wednesday, that they have entered into a definitive agreement for ON Semiconductor to acquire Fairchild for $20.00 per share in cash, in a deal valued at approximately $2.4 billion. ON Semiconductor will commence a cash tender offer to acquire Fairchild's outstanding shares of common stock for $20.00 per share, net to each holder in cash. The deal is expected to close in late Q2 of 2016. Fairchild Semiconductor shares rose 8.59% Wednesday, closing at $19.40.

:

Pfizer Inc.

is in advanced talks to acquire Allergan Plc

for up to $380 per share, according sources as reported by

on Wednesday. A deal could be announced as soon as Monday, say the sources. Earlier in the day, Allergan shares sold off on a report from

that Treasury Secretary Lew had indicated new anti-inversion tax guidance was coming forth, but provided no details. Spokespersons for Allergan and Pfizer declined comment on the rumor. Allergan traded as low as $291.50 and high as $325.00 after-hours on Wednesday.