Equipment Leasing News: Mosaid (TSX:MSD) looks at alternatives to Wi-LAN’s (TSX:WIN) $480-million hostile takeover bid

VANCOUVER, BC (September 12, 2011) Dominion Lending Centres Clearlease Reports Mosaid Technologies Inc. (TSX:MSD) said September 12 it is exploring a “broad range of alternatives” to the $480-million hostile takeover bid by Wi-LAN Inc. (TSX:WIN) and is in discussions with several other parties.

“Mosaid and its financial advisers have been approached by and have initiated contact with several third parties with respect to these prospective alternatives,” Mosaid chairman Carl Schlachte said in a release Monday.

“Discussions are ongoing with these parties and discussions with additional parties are anticipated soon. Based on those discussions, it is anticipated that some or all of these parties will be given access to Mosaid’s data room later this week.”

Schlachte added that at this point “nothing is off the table and everything is up for consideration.”

“Mosaid has a number of attractive paths forward. It will take time, however, to determine which option might be best for Mosaid and our shareholders and to then execute that option.”

The statement was the latest in an escalating battle between the two companies, which on Friday had Wi-LAN questioning the possible negative financial impact of a new family of patents acquired by Mosaid.

At that time, Wi-LAN said that Mosaid’s recent deal was “not attractive from a financial or business perspective” and that the company hadn’t provided enough information about its full financial impact.

On Monday, Mosaid called those statements from Wi-LAN misleading and inaccurate and encouraged its shareholders review the company’s circular.

Patent company Wi-LAN, based in Ottawa, made its initial unsolicited cash offer of $38 per share for Mosaid in August. It already owns 1.6 per cent of Mosaid’s shares.

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