Mergers and Acquistions News
Categories: Semi-Conductors
September 15th 2011, 16:10PM
Mosaid Technologies has accused Wi-Lan of being deliberately misleading about its proposed takeover bid.
The Canadian-based firm, which is a holder of semiconductor patents, issued an update to its shareholders this week, assuring them that it is exploring options to pursue whatever course of action offers the best value.
A special committee has been established by the organisation, which claims that it holds substantial value not reflected in the Wi-Lan offer.
Citing a Wi-Lan press release that states wireless patents - which have an average life of ten years - are not attractive for business or finance, Mosaid asserted its belief that four out of the top five mobile phone vendors will be unlicensed to their wireless patents.
"What we know for certain is that our shareholders should not be misled by Wi-Lan's spin and they should not tender to Wi-Lan's inadequate and highly opportunistic offer," said board chairman Carl Schlachte.
Mosaid's board unanimously voted to reject the hostile takeover bid on September 7th. 
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