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Business | October 20, 2011

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.
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