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UNITED STATES : Sterling signs $590 million deal for MOSAID Technologies
Publish Date : 31-Oct-2011
Sterling Partners announced that it has inked a deal to acquire MOSAID Technologies Inc for a cash payment of $46.00 per share with a total consideration of around $590 million.
As per the deal, MOSAID has agreed to pay a break fee of $22 million if the planned deal is not completed in certain specified conditions and also agreed to suspend the payment of its quarterly dividend
In the transaction, Barclays Capital Canada Inc. and GMP Securities L.P. act as MOSAID’s financial advisors, LaBarge Weinstein Professional Corporation acts as legal counsel to MOSAID and Davies Ward Phillips & Vineberg LLP acts as legal counsel to MOSAID’s Special Committee, while RBC Capital Markets and Osler, Hoskin & Harcourt LLP act as Sterling’s financial and legal advisor respectively.
