Renesas Announces Termination of Memorandum of Understanding and Tender Offer for Proposed Acquisition of Sequans
Sequans Communications S.A. American Depositary Shares (SQNS)
Last sequans communications s.a. american depositary shares earnings: 4/23 06:00 am
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US:NYSE Investor Relations:
sequans.com/investors
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Source: Business Wire
TOKYO--(BUSINESS WIRE)--Renesas Electronics Corporation (TSE: 6723, “Renesas”) today announced that it has terminated the previously announced Memorandum of Understanding (“MOU”) between Renesas and Sequans Communications S.A. (NYSE: SQNS, “Sequans”), pursuant to which Renesas had made a tender offer to purchase all of the issued and outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares (“ADSs”) of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash. The previously announced tender offer has also been terminated by Renesas. Under the terms of the MOU, either Renesas or Sequans can terminate the MOU if, among other reasons, Renesas receives a confirmation from the National Tax Agency of Japan that consummation of the reorganization provided in the MOU would require Renesas to recognize taxable gain and pay such tax under Article 66-6 of Act on Special Measures Concerning Taxations of Japan (an “Adverse Japane
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SQNS
Earnings
- 11/2/23 - Beat
SQNS
Sec Filings
- 4/25/24 - Form 6-K
- 4/9/24 - Form 6-K
- 3/25/24 - Form 6-K
- SQNS's page on the SEC website