EETimes.com – Loeb Partners Corp., a New York-based hedge fund, has submitted a letter to fabless chip and intellectual property (IP) vendor Mosaid Technologies Inc.’s board of directors, proposingthat the company be sold.
In the letter, which can be viewed on Mosaid’s Web site, Loeb asserts that Mosaid (Ottawa, Canada) is “at an important strategic inflection point in light of the fact that the company has licensed the better part of the commodity DRAM industry.”
The letter, dated Aug. 15, goes on to say that Mosaid’s board and management team “must with dispatch hire an investment banking firm, the mandate of which is to maximize value for shareholders by addressing the structural impediments to Mosaid’s garnering multiples in line with peers. More specifically, the board must clear the way for a prompt sale of the company to the highest bidder.”
