Brief: Renesas Announces Termination Of Memorandum Of Understanding And Tender Offer For Proposed Acquisition Of Sequans

Renesas Electronics

23/02/2024 04:02

Feb 22 (Reuters) - Renesas Electronics Corp  6723.T :
    * RENESAS ANNOUNCES TERMINATION OF MEMORANDUM OF
UNDERSTANDING AND
TENDER OFFER FOR PROPOSED ACQUISITION OF SEQUANS
    * ON FEBRUARY 15, 2024, RENESAS RECEIVED AN ADVERSE JAPANESE
TAX
RULING.
    * RENESAS ELECTRONICS - TERMINATION WILL NOT HAVE MATERIAL
IMPACT
ON RENESAS' CORE STRATEGY OF DRIVING ITS TECHNOLOGIES INTO
HIGHER GROWTH INDUSTRIES
    * RENESAS ELECTRONICS - RENESAS EXERCISED ITS RIGHT TO
TERMINATE
MOU, AND AS A RESULT OF SUCH TERMINATION, TENDER OFFER HAS ALSO
BEEN TERMINATED.
    * RENESAS : AS RESULT OF TERMINATION OF MOU & TERMINATION OF
TENDER OFFER, NO ORDINARY SHARES OR ADSS OF SEQUANS WILL BE
PURCHASED BY CO IN TENDER OFFER

Source text for Eikon:  ID:nBw6b1bp6a 
Further company coverage:  6723.T 

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