Sierra Wireless Shares Rise Nearly 6% as Antitrust Review Period Ends
05 Janeiro 2023 - 7:45PM
Dow Jones News
By Denny Jacob
Internet of Things solutions provider Sierra Wireless Inc.
shares rose 5.9% to $30.96 in after-hours trading after it said a
review period for its pending acquisition by chipmaker Semtech
Corp. was terminated.
The two companies said they were notified that the waiting
period related to the Department of Justice's review of the
acquisition was terminated. The DOJ's antitrust division requested
additional information and documentary material in October.
Sierra and Semtech said Thursday they currently expect the
transaction to close on or about Jan. 12.
Semtech in August said it will acquire all of Sierra's
outstanding shares for about $1.2 billion in an all-cash deal.
Sierra shareholders will receive $31 per common share under the
terms of the agreement.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 05, 2023 17:30 ET (22:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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