Business |
Mosaid: 'Don't take action on increased offer'
Mosaid Technologies Inc. advised shareholders not to take any action until further notice with regard to an announcement by Wi-LAN Inc. that it has increased its unsolicited offer to acquire Mosaid.
“Mosaid’s Special Committee is discussing potential value-enhancing alternatives with third parties and will review, consider and evaluate Wi-LAN’s bid in that context,” said Carl P. Schlachte, Chairman of the Board and Special Committee of Mosaid. “Following the Special Committee’s review, and before the expiry of Wi-LAN’s increased offer, the Board will provide a recommendation to shareholders.”
As previously disclosed, Mosaid continues to actively pursue negotiations with third parties that are in the process of reviewing Mosaid’s confidential information with a view to surfacing additional alternatives.
