Post says investors should pull for Wi-LAN's MosaiWi-LAN Inc (C:WIN)
Shares Issued 123,538,842
Last Close 9/26/2011 $6.21
Tuesday September 27 2011 - In the News
Also Mosaid Technologies Inc (C:MSD) In the News
The Financial Post reports in its Tuesday that investors should hope that Wi-LAN wins its $38-a-share unsolicited offer for Mosaid Technologies. The Post's Barry Critchley, writing in Off the Record, says the bidder has a lot invested in the takeover, including fees to underwriters that raised $230-million to help finance the acquisition, to the banks that have also provided credit facilities, and to the costs of preparing and mailing out a circular. Mr. Critchley figures despite that, the costs spent already may end up being wasted because, since the hostile deal was announced Aug. 17, Mosaid's share price has always traded above the $38-a-share cash offer. Over the period, the shares have traded in the $38.90-to-$41.43 range. The shares closed Monday at $38.60, meaning the market thinks that $38 will not be enough. Mosaid has about 12 million shares outstanding, meaning every one dollar increase in Wi-LAN's offer costs $12-million.
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