OTTAWA, Ontario – Oct 19, 2011 - MOSAID Technologies Inc. (TSX:MSD) today 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. MOSAID provided an update on its process to the Ontario Securities Commission last week during a hearing on MOSAID’s Shareholder Rights Plan.
MOSAID advises its shareholders not to tender to Wi-LAN’s increased offer before the Board provides its recommendation, which will be contained in an updated directors’ circular that will be mailed to shareholders and posted on the MOSAID website and on SEDAR.
Enquiries concerning Wi-LAN's take-over bid, including how to withdraw any shares that you have already tendered to the bid, may be directed to MOSAID's information agent, Georgeson Shareholder Communications Canada Inc., at 1-888-605-7632 or firstname.lastname@example.org.
MOSAID Technologies Inc. is one of the world's leading intellectual property companies. MOSAID licenses patented intellectual property in the areas of semiconductors and communications, and develops semiconductor memory technology. MOSAID counts many of the world's largest technology companies among its licensees. Founded in 1975, MOSAID has offices in Ottawa, Ontario, Plano, Texas and Luxembourg. For more information, please visit www.mosaid.com and the InvestorChannel.mosaid.com.