Montage Technology announced that its board has received a preliminary non-binding proposal letter, dated March 10, from Shanghai Pudong Science and Technology, 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 $21.50 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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