Sierra Wireless France to go ahead with squeeze-out of Wavecom shares

By Lisa Kerner

Charlotte, N.C., April 20 - Lazard Frères Banque, acting on behalf of Sierra Wireless France SAS, informed the Autorité des marches financiers that Sierra Wireless France will proceed with the squeeze-out of the Wavecom SA shares it does not own.

According to the AMF, the squeeze-out will be implemented on April 29, the same date Wavecom's shares will be delisted from Euronext Paris.

Sierra Wireless France said the squeeze-out will also target all Wavecom Oceanes it does not own.

As previously reported, Wavecom agreed to be acquired by Sierra Wireless, Inc. for €8.50 per ordinary share and €31.93 per Oceane, or a total purchase price of about €218 million.

In early April, Sierra Wireless France, a subsidiary of Sierra Wireless, announced that it successfully reached the squeeze-out threshold in its all-cash offer for Wavecom shares.

Sierra Wireless is a modem and software company based in Richmond, B.C. Wavecom is an Issy-Les-Moulineaux, France-based wireless communications provider.

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