ISSI Shareholders Approve Acquisition by Uphill Investment

Integrated Silicon Solution Inc. investors voted Monday to approve the company’s purchase by Uphill Investment Co., ending a bidding war over the chipmaker.

Shareholders supported the $23-a-share offer by the China-backed investment group. The bid values ISSI at more than $731 million based on 31.8 million shares outstanding, according to data compiled by Bloomberg. The transaction’s closing, planned for the third quarter, is dependent on the restructuring of company assets in Taiwan and approval from the Committee on Foreign Investment in the U.S., Milpitas, California-based ISSI said in a statement.