Mosaid Gets Sold

Deal to Sterling for $590M in cash is all set

December 23, 2011

1 Min Read

OTTAWA -- MOSAID Technologies Inc. (TSX:MSD) announced today the completion of the statutory arrangement pursuant to which 7577796 Canada Inc., a corporation directly or indirectly owned by investment funds under the management of Sterling Fund Management, LLC, has acquired all the outstanding common shares of MOSAID for a cash payment of $46.00 per share. The total value of the transaction is approximately $590 million.

With the completion of the arrangement, MOSAID's shares are expected to be de-listed from the Toronto Stock Exchange following the close of trading on December 28, 2011 (the next trading day after the date of closing of the arrangement).

Mosaid Technologies Inc.

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