On Monday, Shares of Cypress Semiconductor Corporation (NASDAQ:CY), gained 2.45% to $13.39.
Cypress Semiconductor Corporation, declared that it had sent the letter to the Chief Financial Officer of Integrated Silicon Solution, Inc.
On May 15, Integrated Silicon Solution, Inc. (ISSI) acknowledged the receipt of an unsolicited offer from Cypress Semiconductor Corporation (CY) to acquire all of the outstanding common stock of ISSI for $19.75 per share in cash.
As formerly declared, ISSI reached a contract and Plan of Merger dated as of March 12, 2015 (“Uphill Agreement”) with Uphill Investment Co., following which Uphill agreed to acquire all of the outstanding common stock of ISSI for $19.25 per share in cash.
The ISSI Board of Directors has determined in good faith, after consultation with ISSI’s financial advisor and outside legal counsel, that the Cypress offer either constitutes or is reasonably predictable to lead to a Superior Proposal (as defined in the Merger Agreement), and that the failure to take part or engage in discussions or negotiations with Cypress and/or furnish information to Cypress would reasonably be predictable to be inconsistent with its fiduciary duties to the company stockholders under Delaware Law. Therefore, ISSI presently anticipates to take part or engage in discussions or negotiations with Cypress regarding the offer and/or furnish information to Cypress in compliance with the applicable terms of the Merger Agreement.
Cypress Semiconductor Corporation provides mixed-signal programmable solutions, specialized semiconductor memories, and integrated semiconductor solutions worldwide. The companys Memory Products division designs and manufactures static random access memory (SRAM) products and nonvolatile RAMs used to store and retrieve data in networking, wireless infrastructure and handsets, computation, consumer, automotive, industrial, and other electronic systems; and general-purpose programmable clocks.
Shares of E. I. du Pont de Nemours and Company (NYSE:DD), inclined -0.37% to $69.99, during its last trading session.
The Chemours Company, a wholly owned partner of E. I. du Pont de Nemours and Company, declared that eight individuals have been selected to serve on the company’s board of directors following its spinoff from DuPont which is predictable to occur on July 1, 2015, subject to customary closing conditions.
The new board members will be Richard Brown, chair of the board, in addition to Curtis Anastasio, Bradley Bell, Mary Cranston, Curtis Crawford, Dawn Farrell, Stephen Newlin, and Mark Vergnano.
E. I. du Pont de Nemours and Company operates as a science and technology based company worldwide. The company’s Agriculture segment offers corn hybrid, soybean, canola, sunflower, sorghum, inoculants, seed products, wheat, rice, herbicides, fungicides, and insecticides. Its Electronics & Communications segment provides various materials and systems, counting photopolymers and electronic materials for photovoltaic products, consumer electronics, displays, and advanced printing.
At the end of Monday’s trade, Shares of MetLife, Inc. (NYSE:MET), gained 0.91% to $53.06.
MetLife, Hong Kong’s Infinity app, a digital time capsule and legacy creator, recently picked up its fifth industry award as it won Silver for “Best App” at the 2015 Asia-Pacific Stevie® Awards. The highly decorated app also boasts the most popular insurance app launch in Hong Kong.
The Infinity app utilizes a simple interface that is privately shareable, which allows people to capture and share positive messages, photos, and videos to deliver these to their loved ones at a predetermined time in the future. Users can also upload practical items that their loved ones may need to access now or will need in the future. The innovative features, sleek and easy design, and relevance to Hong Kong people’s lives have assisted catapult Infinity app’s popularity and recognition from the industry.
In addition to its success at the 2015 Asia-Pacific Stevie® Awards, the Infinity app has also won an “Innovation Award” at the 2014 Asia Insurance Technology Awards, “Outstanding Achiever for Best Use of Technology” at the BENCHMARK Wealth Administration Awards 2014, and Bronze Awards for “Best App in Creative Design” and “Best App in Consumer Brand” at the 2015 Mob-Ex Awards Hong Kong.
MetLife, Inc. provides life insurance, annuities, employee benefits, and asset administration products in the United States, Japan, Latin America, Asia, Europe, and the Middle East. It operates in six segments: Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America; Asia; and Europe, the Middle East and Africa.
Finally, The Gap, Inc. (NYSE:GPS), ended its last trade with 0.93% gain, and closed at $39.25.
The Gap, will provide a live audio webcast of the company’s Annual Meeting of Shareholders, starting at 10:00 a.m. Pacific Daylight Time on May 19, 2015. To register for the webcast on May 19, visit www.gapinc.com (follow the Investors, Financial News and Events, Webcasts links).
The Gap, Inc. operates as an apparel retail company worldwide. It offers apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brand names.
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