“Renesas will, following consultation of the Sequans’ works council and favourable recommendation by the Sequans Board, commence a tender offer to acquire all outstanding ordinary shares, including American depositary shares [ADS] of Sequans for $3.03 per ADS – each ADS representing four ordinary shares – in cash,” said Renesas. “The transaction values Sequans at approximately $249m, including net debt, and is expected to close by the first quarter of calendar year 2024, subject to confirmation of tax treatment from relevant authorities, regulatory approvals and other customary closing conditions.”
