Morrison & Foerster and Wilson Sonsini Goodrich & Rosati have the lead roles on a $640 million deal that will see a group of Chinese investors acquire Nasdaq-listed semiconductor maker Integrated Silicon Solutions Inc.
The consortium, led by Chinese venture capital firm Summitview Capital, is offering to pay $19.25 apiece for Milpitas, California-based Integrated Silicon at $19.25 apiece, which is a 12 percent premium compared to the stock’s closing price on March 11. The consortium also includes Beijing-based chipmaker eTown MemTek Ltd., private equity firm Hua Capital Management Ltd. and Huaqing Jiye Investment Management Co. Ltd. The latter two are both controlled by state-owned Tsinghua University, one of the top universities in China.
