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Renesas Announces Termination of Memorandum of Understanding and Tender Offer for Proposed Acquisition of Sequans

By Renesas Press Release

23 Feb 2024

TOKYO, Japan, February 23, 2024 ― Renesas Electronics Corporation (TSE: 6723, “Renesas”) today announced that it has terminated the previously announced Memorandum of Understanding (“MOU”) between Renesas and Sequans Communications S.A. (NYSE: SQNS, “Sequans”), pursuant to which Renesas had made a tender offer to purchase all of the issued and outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares (“ADSs”) of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash. The previously announced tender offer has also been terminated by Renesas. 

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