Wavecom agrees to be acquired by Sierra Wireless in friendly deal
Client(s) Wavecom SA
Jones Day advised Wavecom SA (listed on Euronext in France and on Nasdaq in the US) in connection with the friendly takeover bid announced by Sierra Wireless, Inc. for €218 million (US$276.8 million) on December 2, 2008. The offer represents a premium of 21% over the unsolicited offer for Wavecom shares previously announced by Gemalto on October 6, 2008. Gemalto's initial offer was the first unsolicited bid involving a company listed both in France and in the U.S. in several years, with the intervention of a white knight. In addition to M&A representation, Jones Day provided antitrust, litigation, and tax advice regarding this transaction.