Osler Hoskin Advises Sterling On $595M Mosaid Buy

Law360, New York (October 27, 2011, 10:50 PM EDT) -- Mosaid Technologies Inc. has agreed to sell itself to Illinois-based private equity firm Sterling Partners for CA$590 million ($595 million) and urged its shareholders to reject a hostile bid by rival Wi-LAN Inc., the Canadian patent-licensing company said Thursday.

Mosaid's board of directors unanimously approved Sterling's CA$46 share price offer, which represents a 9.5 percent premium over the CA$42 share price offer of Wi-LAN, which raised its bid to that number from CA$38 per share on Oct. 19.

Mosaid said it contacted over 35 parties to...
To view the full article, register now.