Mosaid bought for C$590 million by Sterling Partners Reuters press release.

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drandres

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Mosaid bought for C$590 million by Sterling Partners Reuters press release.

posted on Oct 27, 2011 06:56PM

TORONTO (Reuters) - Canadian patent licensing company Mosaid Technologies (Toronto:MSD.TO - News) said late on Thursday it agreed to be bought by U.S.-based private equity firm Sterling Partners for C$590 million ($596 million), trumping a hostile bid from rival Wi-Lan Inc (Toronto:WIN.TO - News) for C$532 million.

Sterling Partners, with offices in Chicago, Baltimore, and Miami, said it would pay C$46 for each share of Mosaid. The offer has the unanimous recommendation of Mosaid's board of directors.

Looks like at least some folks like the idea that Win is not the buyer. The up action in Win today seems to have occurred after the deal (after hours).