Mosaid agrees higher takeover bid with Sterling Partners

Nieuws Mobiel Wereld 28 OCT 2011
Mosaid agrees higher takeover bid with Sterling Partners
Mosaid Technologies has agreed to a takeover from private equity group Sterling Partners for CAD 46 per share, or a total CAD 590 million. The offer is a 45.3 percent premium on Mosaid's share price on 17 August, the last day of trading before Wi-Lan launched a hostile bid for the company. It's also higher than Wi-Lan's last offer of USD 42 per share. Mosaid told its shareholders to not tender their shares inWi-Lan's offer and await Sterling's public offer. After Wi-Lan's offer, Mosaid started a strategic review and invited over 35 companies to talks on a deal. In the end Sterling's offer was the most attractive and is recommended by Mosaid's management. The deal still depends on approval from shareholders, at a special meeting planned for late December 2011 or early January 2012.

Categories:

Mobiel

Companies:

Wi-Lan,  Mosaid Technologies

Regions:

Wereld

Tags:

Wholesale, M&A buyouts & divestments, Research and development

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