During this process, the financial advisors and MOSAID contacted over 35 parties to discuss their interest in pursuing a strategic transaction with MOSAID. As a result of those contacts, MOSAID entered into confidentiality and standstill agreements with 12 interested parties and had ongoing discussions with multiple parties. The transaction with Sterling, in the view of the Special Committee and the Board, was the most attractive offer made for the shares of MOSAID and represents the best sale alternative available for shareholders.
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