Brief: Renesas Electronics Says To Acquire Cellular IOT Technology Leader Sequans Through Tender Offer

Sequans Communications SA

07/08/2023 08:03

Aug 7 (Reuters) - Renesas Electronics Corp  6723.T :
    * RENESAS TO ACQUIRE CELLULAR IOT TECHNOLOGY LEADER SEQUANS
THROUGH TENDER OFFER
    * SAYS TRANSACTION VALUES SEQUANS AT APPROXIMATELY $249
MILLION,
INCLUDING NET DEBT
    * UNDER TERMS OF MOU, RENESAS WILL INITIATE A CASH TENDER
OFFER OF
$3.03 PER SEQUANS ADS
    * DEAL CLOSE SUBJECT TO VALID TENDER OF SEQUANS SHARES
REPRESENTING AT LEAST 90% OF OUTSTANDING SHARE CAPITAL OF
SEQUANS ON FULLY DILUTED BASIS
    * SEQUANS' EXISTING FRENCH ACTIVITIES, INCLUDING ASSETS,
LIABILITIES, EMPLOYEES, TO BE FIRST TRANSFERRED TO NEW
WHOLLY-OWNED FRENCH SUBSIDIARY
    * ASSUMING COMPLETION , SEQUANS WILL BECOME A PRIVATELY HELD
COMPANY AND SEQUANS' ADSS WILL NO LONGER BE LISTED ON ANY PUBLIC
MARKET

Source text for Eikon:  ID:nBw80F5Nta 
Further company coverage:  6723.T 

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