Wi-LAN Wins Agency OKs For $490M Mosaid Bid

Law360, New York (October 05, 2011, 4:07 PM ET) -- Canadian patent licensing company Wi-LAN Inc. said Tuesday it had received clearance from U.S. and Canadian antitrust regulators to proceed with its hostile CA$480 million (US$490 million) bid for rival Mosaid Technologies Inc.

Wi-LAN, which announced its hostile takeover bid in August, also extended its proposal window to Oct. 14 in hopes of swaying shareholders to abandon a poison pill plan Mosaid adopted in September to thwart what it called an inadequate offer.

Last week, Ontario-based Mosaid again urged its shareholders to reject Wi-LAN's offer, saying...
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