Sierra Wireless offers a buy out of court for Wavecom
Sierra Wireless is committed to a buy out of court specialist wireless communications Wavecom, the two groups announced in a joint statement. The Canadian group will offer 8.50 euros per share Wavecom and 31.93 euros per convertible bond Oceana, which represents a purchase price of approximately 218 million euros.
The Board of Directors of Wavecom has unanimously approved this project and decided to postpone the general meeting, originally scheduled for December 8. The founders of Wavecom pledged to bring their shares, representing approximately 21% of the shares outstanding.
The title was suspended Monday in Paris Bourse at the request of Wavecom. The manufacturer of smart cards Gemalto announced in the morning having informed the AMF of its intention to abandon its bid on Wavecom or amend the terms if some of the resolutions submitted to the General Assembly Wavecom of the December 8 were adopted.
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