Reported Earlier, Renesas Electronics Terminates Memorandum Of Understanding And Tender Offer For Proposed Acquisition Of Sequans Communications
Portfolio Pulse from Benzinga Newsdesk
Renesas Electronics Corporation has terminated its Memorandum of Understanding and tender offer for the acquisition of Sequans Communications S.A. (SQNS). The offer was to purchase Sequans' shares at $0.7575 per share and ADSs at $3.03 per ADS in cash.
February 23, 2024 | 6:54 am
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Renesas Electronics has terminated its acquisition plans for Sequans Communications, including the tender offer for Sequans' shares and ADSs.
The termination of the acquisition and tender offer by Renesas Electronics is likely to negatively impact Sequans Communications' stock price in the short term. This is because the market may view the termination as a loss of a potential financial and strategic opportunity for Sequans, leading to decreased investor confidence.
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