Sierra Wireless (SWIR) Enters Agreement To Merge With Wavecom (WVCM)
More News related to SWIR
- Media Advisory - Sierra Wireless to participate in RBC Capital Markets' 2009 Technology, Media, and Communications Conference
- Media Advisory - Sierra Wireless CEO to present at Barclays Capital Worldwide Wireless and Wireline Conference 2009
- Sierra Wireless Announces Changes to Executive Leadership Team and Cost Synergy Initiatives
- Sierra Wireless to add ALEOS(TM) embedded intelligence to the MP line of rugged mobile gateways and routers
- Meta System and Wavecom to Jointly Develop Solutions for Automotive Telematics
More News related to WVCM
- Meta System and Wavecom to Jointly Develop Solutions for Automotive Telematics
- Unusual 11 Mid-Day Movers 12/02: CLP, HRP, MRX, S Higher; TSRA, GGP, XNPT, PALM Lower
- Notable Mergers and Acquisitions of the Day 12/02: NOVA, ADSK, SWIR/WVCM
- Morning Movers 12/02: Tessera (TSRA) Sinks on Patent Ruling, GE (GE) Higher on Capital Unit Update
- Sierra Wireless (SWIR) Enters Agreement To Merge With Wavecom (WVCM)
Sierra Wireless, Inc., (NASDAQ: SWIR) and Wavecom S.A. (NASDAQ: WVCM) have reached a Memorandum of Understanding providing for a business combination. Pursuant to and subject to the terms of the MOU, Sierra Wireless will make a cash offer of (euro)8.50 per ordinary share of Wavecom, and (euro)31.93 per OCEANE convertible bond, amounting to an aggregate purchase price of approximately (euro)218 million.
The offer represents a premium of 21% over the offer for Wavecom shares announced by Gemalto on October 6, 2008 and a 108% premium over the share price on October 3, 2008, the last trading day prior to Gemalto's announcement of its offer. For the OCEANEs, the price represents a premium of 2% to their redemption value.
Related Categories
Hot ListMergers and Acquisitions
Stocks Mentioned
-0.19
+0.00Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
