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John C. Lindgren, President and CEO of MOSAID Technologies Incorporated. (Tory Zimmerman/Tory Zimmerman/The Globe and Mail)
John C. Lindgren, President and CEO of MOSAID Technologies Incorporated. (Tory Zimmerman/Tory Zimmerman/The Globe and Mail)

Mosaid shareholders approve Sterling's buy Add to ...

Shareholders in Canadian patent licensing company Mosaid Technologies have approved its sale to private equity firm Sterling Partners, the Ottawa-based company said on Monday.

U.S.-based Sterling agreed to pay $590 million for Mosaid. The $46 a share offer topped a $42 bid from rival licensing firm Wi-Lan.

Mosaid also said it had satisfied certain regulatory approvals and expected final approval and closing of the deal this week.

Mosaid shares were little changed at $45.91 at midday on Monday, having risen 54 per cent since the start of the year.

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