Intel extends cash offer for all outstanding shares of Mobileye
01 August 2017
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. (Earlier post.) Mobileye is a global leader in the development of computer vision and machine learning, data analysis, localization and mapping for advanced driver assistance systems and autonomous driving.
The tender offer is now scheduled to expire at 5:00 p.m., Eastern Time, 11 August 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. ET 28 July 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% of the outstanding Mobileye ordinary shares, had been validly tendered pursuant to the tender offer and not properly withdrawn and an additional 27,187,778 Mobileye ordinary shares, representing approximately 12.21% of the outstanding Mobileye ordinary shares, had been tendered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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