RE: Sp31 Jul 2017 14:50
Intel (INTC) Extends Cash Tender Offer for Mobileye (MBLY)
July 31, 2017 8:31 AM
Intel Corporation (NASDAQ: INTC) today announced that Cyclops Holdings, LLC, a wholly owned subsidiary of Intel, has extended the offering period of its previously announced all cash tender offer to purchase all of the outstanding ordinary shares of Mobileye N.V. (NYSE: MBLY). The tender offer is being made pursuant to the Purchase Agreement, dated as of March 12, 2017, by and among Intel, Cyclops and Mobileye (the “Purchase Agreement”). The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on August 11, 2017, unless the tender offer is extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.
American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, has advised Cyclops that as of 5:00 p.m., New York City time, on July 28, 2017, the previously scheduled expiration time, 175,088,921 Mobileye ordinary shares (excluding Mobileye ordinary shares tendered pursuant to guaranteed delivery procedures), representing approximately 78.63 percent of the outstanding Mobileye ordinary shares, had been validly tendered pursuant to the tender offer and not properly withdrawn and an additional 27,187,778 Mobileye ordinary shares, representing approximately 12.21 percent of the outstanding Mobileye ordinary shares, had been tendered pursuant to guaranteed delivery procedures. The transaction is currently expected to close during the third quarter of 2017. Mobileye shareholders who have already tendered their ordinary shares of Mobileye do not have to re-tender their shares or take any other action as a result of the extension of the expiration date of the tender offer
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