CFIUS

Renesas Extends Tender Offer for Proposed Acquisition of Sequans

Retrieved on: 
Lunedì, Gennaio 22, 2024
CFIUS, BNY Mellon, Bank, Letter, ADS, Electronics, American depositary receipt

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash

Key Points: 
  • Tokyo, Japan and Paris, France--(Newsfile Corp. - January 22, 2024) - Renesas Electronics Corporation (TSE: 6723) ("Renesas") and Sequans Communications S.A. (NYSE: SQNS) ("Sequans") today announced that Renesas has extended the expiration date of its tender offer to acquire all of the 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, without interest and less any applicable withholding taxes.
  • The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on January 22, 2024, has been extended until one minute after 11:59 P.M., New York City time, on February 5, 2024, unless the tender offer is further extended or earlier terminated.
  • The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, regulatory approvals (other than the previously announced CFIUS approval, NSIA approval and Taiwan merger control approval) and the valid tender of ordinary shares and ADSs of Sequans representing - together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any - at least 90% of the fully diluted ordinary shares of Sequans.
  • The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on January 19, 2024, approximately 116,077,972 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 41.8% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer.

Accelera by Cummins, Daimler Truck and PACCAR select Mississippi for battery cell production in the United States

Retrieved on: 
Giovedì, Gennaio 18, 2024
EV, Electric Vehicles, Batteries, Alternative Energy, Energy, General Automotive, Technology, Automotive, Environment, Green Technology, Engineering, Automotive Manufacturing, Manufacturing, LFP, CMI, CFIUS, Foreign investment, Partnership, Kilowatt-hour, PACCAR, Carbon, Daimler Truck North America, Geography, Transport, Climate, Committee, Daimler Truck, Cell, Automotive industry

Accelera™ by Cummins, the zero-emissions business segment of Cummins Inc. [NYSE: CMI], Daimler Trucks & Buses US Holding LLC [a Daimler Truck Group Company; DAX: DTR0CK; “Daimler Truck”] and PACCAR [NASDAQ: PCAR] have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture.

Key Points: 
  • Accelera™ by Cummins, the zero-emissions business segment of Cummins Inc. [NYSE: CMI], Daimler Trucks & Buses US Holding LLC [a Daimler Truck Group Company; DAX: DTR0CK; “Daimler Truck”] and PACCAR [NASDAQ: PCAR] have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture.
  • The planned joint venture between Accelera, Daimler Truck and PACCAR was announced in September 2023 and will create scale to deliver cost effective and differentiated battery cell technology that supports the adoption of electric vehicles for medium- and heavy-duty commercial transportation.
  • Accelera, Daimler Truck and PACCAR will each own 30% of, and jointly control, the business, which will focus on lithium-iron-phosphate (LFP) battery technology for commercial battery-electric trucks.
  • Accelera, Daimler Truck and PACCAR are leading the commercial vehicle sector’s transition to zero-emissions technologies.

3DEO Secures Strategic Investment From Development Bank of Japan and Seiko Epson Corporation to Accelerate Growth and Innovation

Retrieved on: 
Venerdì, Gennaio 19, 2024
Technology, Engineering, Banking, Professional Services, Software, Manufacturing, Machinery, Machine Tools, Metalworking & Metallurgy, Hardware, Robotics, Specialization, Research, CFIUS, Foreign investment, Trust, Partnership, Additive, EPSON, DBJ, Movement, 3D, Development finance institution, Committee, 3D printing, Design for additive manufacturing, Growth

3DEO, a Los Angeles-based leader in design, engineering and metal additive manufacturing (AM), today announced a significant investment from the Development Bank of Japan Inc. (DBJ) and Seiko Epson Corporation (EPSON).

Key Points: 
  • 3DEO, a Los Angeles-based leader in design, engineering and metal additive manufacturing (AM), today announced a significant investment from the Development Bank of Japan Inc. (DBJ) and Seiko Epson Corporation (EPSON).
  • The investment will propel 3DEO’s growth strategies in North America and Japan, expanding opportunities for partnership in the semiconductor, aerospace, medical devices and equipment, and industrial sectors.
  • The strategic investment by DBJ and EPSON aligns with DBJ's mandate to foster “technological innovation and reorganization of industry,” and with Epson's mission to promote “manufacturing innovation” under its Epson 25 Renewed Corporate Vision.
  • With this strategic investment, 3DEO is poised to further disrupt traditional and advanced manufacturing processes, bringing innovative products to market faster and more efficiently than ever before.

Accelera by Cummins, Daimler Truck and PACCAR Select Mississippi for Battery Cell Production in the United States

Retrieved on: 
Giovedì, Gennaio 18, 2024
Alternative Vehicles, Fuels, Trucking, EV, Electric Vehicles, Automotive, Transport, Automotive Manufacturing, Manufacturing, Alternative Energy, Energy, LFP, CFIUS, Foreign investment, Multimedia, Partnership, Kilowatt-hour, PACCAR, Carbon, Daimler Truck North America, Geography, Climate, Committee, Daimler Truck, Cell, Automotive industry

Accelera™ by Cummins, Daimler Trucks & Buses US Holding LLC and PACCAR have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture.

Key Points: 
  • Accelera™ by Cummins, Daimler Trucks & Buses US Holding LLC and PACCAR have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture.
  • The 21-gigawatt hour (GWh) factory is expected to begin producing battery cells in 2027.
  • Accelera, Daimler Truck and PACCAR will each own 30% of, and jointly control, the business, which will focus on lithium-iron-phosphate (LFP) battery technology for commercial battery-electric trucks.
  • Accelera, Daimler Truck and PACCAR are leading the commercial vehicle sector’s transition to zero-emissions technologies.

Renesas Extends Tender Offer for Proposed Acquisition of Sequans

Retrieved on: 
Venerdì, Gennaio 5, 2024
ADS, Bank, Letter, CFIUS, Electronics, BNY Mellon, American depositary receipt

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash

Key Points: 
  • Tokyo, Japan and Paris, France--(Newsfile Corp. - January 5, 2024) - Renesas Electronics Corporation (TSE: 6723) ("Renesas") and Sequans Communications S.A. (NYSE: SQNS) ("Sequans") today announced that Renesas has extended the expiration date of its tender offer to acquire all of the 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, without interest and less any applicable withholding taxes.
  • The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on January 5, 2024, has been extended until one minute after 11:59 P.M., New York City time, on January 22, 2024, unless the tender offer is further extended or earlier terminated.
  • The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, regulatory approvals (other than the previously announced CFIUS approval, NSIA approval and Taiwan merger control approval) and the valid tender of ordinary shares and ADSs of Sequans representing - together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any - at least 90% of the fully diluted ordinary shares of Sequans.
  • The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on January 4, 2024, approximately 116,333,513 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 41.9% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer.

Renesas Extends Tender Offer for Proposed Acquisition of Sequans

Retrieved on: 
Martedì, Dicembre 19, 2023
ADS, Bank, Letter, CFIUS, Electronics, BNY Mellon, American depositary receipt

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash

Key Points: 
  • Tokyo, Japan and Paris, France--(Newsfile Corp. - December 19, 2023) - Renesas Electronics Corporation (TSE: 6723) ("Renesas") and Sequans Communications S.A. (NYSE: SQNS) ("Sequans") today announced that Renesas has extended the expiration date of its tender offer to acquire all of the 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, without interest and less any applicable withholding taxes.
  • The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on December 20, 2023, has been extended until one minute after 11:59 P.M., New York City time, on January 5, 2024, unless the tender offer is further extended or earlier terminated.
  • The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, regulatory approvals (other than the previously announced CFIUS approval, NSIA approval and Taiwan merger control approval) and the valid tender of ordinary shares and ADSs of Sequans representing - together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any - at least 90% of the fully diluted ordinary shares of Sequans.
  • The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on December 18, 2023, approximately 104,685,461 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 37.5% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer.

Renesas Extends Tender Offer and Receives Taiwan Merger Control Approval for Proposed Acquisition of Sequans

Retrieved on: 
Martedì, Dicembre 5, 2023
ADS, Bank, Letter, Acquisition, CFIUS, Electronics, BNY Mellon, American depositary receipt

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash

Key Points: 
  • The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on December 6, 2023, has been extended until one minute after 11:59 P.M., New York City time, on December 20, 2023, unless the tender offer is further extended or earlier terminated.
  • The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, regulatory approvals (other than the Taiwan merger control approval and the previously announced NSIA approval and CFIUS approval) and the valid tender of ordinary shares and ADSs of Sequans representing - together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any - at least 90% of the fully diluted ordinary shares of Sequans.
  • The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on December 4, 2023, approximately 108,974,617 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 38.8% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer.
  • Holders that have previously tendered their shares do not need to re-tender their shares or take any other action in response to this extension.

Renesas Extends Tender Offer for Proposed Acquisition of Sequans

Retrieved on: 
Lunedì, Novembre 20, 2023
ADS, Bank, Letter, CFIUS, Electronics, BNY Mellon, American depositary receipt

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash

Key Points: 
  • Tokyo, Japan and Paris, France--(Newsfile Corp. - November 20, 2023) - Renesas Electronics Corporation (TSE: 6723) ("Renesas") and Sequans Communications S.A. (NYSE: SQNS) ("Sequans") today announced that Renesas has extended the expiration date of its tender offer to acquire all of the 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, without interest and less any applicable withholding taxes.
  • The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on November 21, 2023, has been extended until one minute after 11:59 P.M., New York City time, on December 6, 2023, unless the tender offer is further extended or earlier terminated.
  • The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, regulatory approvals (other than the previously announced CFIUS approval and NSIA approval) and the valid tender of ordinary shares and ADSs of Sequans representing - together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any - at least 90% of the fully diluted ordinary shares of Sequans.
  • The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on November 17, 2023, approximately 109,035,233 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 38.8% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer.

Apex Announces Strategic Asset Sale to ERG

Retrieved on: 
Giovedì, Dicembre 21, 2023
Environment, Finance, Other Energy, Utilities, Professional Services, Alternative Energy, Sustainability, Green Technology, Energy, J.P. Morgan & Co., Partnership, PPA, Sale, Primary energy, ERG, Pathfinder, CFIUS, Champions League, Organization

Apex Clean Energy today announced an agreement with ERG, a leading European renewable energy producer, for the partial sale of a portfolio of operating clean energy assets in the United States.

Key Points: 
  • Apex Clean Energy today announced an agreement with ERG, a leading European renewable energy producer, for the partial sale of a portfolio of operating clean energy assets in the United States.
  • Apex will continue to own a 25% stake and manage the operations of the facilities, with ERG acquiring a 75% stake.
  • The portfolio—the first in a series that will support Apex’s capital recycling program—includes 224.4 MW Great Pathfinder Wind in Iowa and 92.4 MWDC Mulligan Solar in Illinois.
  • “In ERG, we’ve found a new partner with a shared commitment to driving the energy transition.

Gilat Completes Acquisition of DataPath, Inc.

Retrieved on: 
Giovedì, Novembre 16, 2023
Acquisition, Foreign investment, Datapath, LLP, SATCOM, Committee, Communication, CFIUS, TASE, Government, Gilat

“This acquisition is a strong step ahead in Gilat’s strategy to increase its presence in the growing defense market,” said Adi Sfadia, Gilat’s CEO.

Key Points: 
  • “This acquisition is a strong step ahead in Gilat’s strategy to increase its presence in the growing defense market,” said Adi Sfadia, Gilat’s CEO.
  • “DataPath, now as part of Gilat, will continue to offer superior solutions, not just within the U.S. DoD market, but throughout the world.
  • This acquisition’s synergies enhance Gilat’s and DataPath’s ability to develop solutions for the rapidly evolving satellite communication market.
  • As the SATCOM market enters a new space age, our combined resources and technologies further enhance Gilat’s strategy in the global defense sector.”
    Needham & Company LLC and Quilty Analytics LLC are serving as financial advisors to Gilat.