Mergers and Acquistions News
Categories: Semi-Conductors
August 26th 2011, 15:02PM
Mosaid Technologies has announced it is "carefully reviewing" an unsolicited takeover bid from Wi-Lan.
The Canadian-based firm, which is a holder of semiconductor patents, has until September 28th to make a decision on the current offer, which is not a permitted bid due to the Shareholder Rights Plan adopted by the enterprise.
Mosaid's special committee has taken the preliminary view that the takeover is "highly opportunistic" and does not appreciate the true value of the enterprise.
The company's shareholders have been advised not to take any action until a full review has taken place and the board of directors have discussed the offer.
Reuters notes that Wi-Lan has approached Mosaid with takeovers on many occasions in recent years, adding that purchasing shares in the business would underscore "the global race for technology patents to use as weapons in litigation and cross-licensing".
Mosaid stated that it will advise its shareholders of its decision no later than September 7th.
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