Intel Commences Cash Tender Offer for All Outstanding Shares of Mobileye
SANTA CLARA, Calif., April 6, 2017 -- Intel Corporation (NASDAQ: INTC) announced that Cyclops Holdings, LLC, a wholly owned subsidiary of Intel, is commencing the previously announced tender offer for all of the outstanding ordinary shares of Mobileye N.V. (NYSE: MBLY) at a price of $63.54 per share, less any applicable withholding taxes and without interest, payable in cash to the holders thereof. The tender offer is being made pursuant to the Purchase Agreement, dated as of March 12, 2017, by and among Intel Corporation, Mobileye and Cyclops Holdings, Inc., a wholly owned subsidiary of Intel that was converted into Cyclops Holdings, LLC, a Delaware limited liability company, on April 4, 2017.
A tender offer statement on Schedule TO that includes the Offer to Purchase and related Letter of Transmittal that set forth the complete terms and conditions of the tender offer will be filed today with the U.S. Securities and Exchange Commission by Cyclops Holdings, LLC. Additionally, Mobileye will file with the SEC a solicitation/recommendation statement on Schedule 14D-9 today that includes the recommendation of Mobileye’s board of directors that Mobileye shareholders tender their shares in the tender offer.
The tender offer will expire at 5:00 p.m., New York City time, on June 21, 2017, unless extended or earlier terminated, in each case in accordance with the terms of the Purchase Agreement.
The tender offer is not subject to any financing condition. The completion of the tender offer is conditioned upon, among other things, satisfaction of a minimum tender condition and the receipt of regulatory approvals in various jurisdictions.
Copies of the tender offer documents are available free of charge by contacting D.F. King & Co., Inc., the information agent for the tender offer, toll free at (800) 966-9021 (for shareholders) or collect at (212) 269-5550 (for banks and brokers), and, when they become available, at the website maintained by the SEC at www.sec.gov. American Stock Transfer & Trust Company, LLC is acting as depositary for the tender offer.
About Intel
Intel (NASDAQ: INTC) expands the boundaries of technology to make the most amazing experiences possible. Information about Intel can be found at newsroom.intel.com and intel.com.
About Mobileye N.V.
Mobileye N.V. is the 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 Company’s technology keeps passengers safer on the roads, reduces the risks of traffic accidents, saves lives and has the potential to revolutionize the driving experience by enabling autonomous driving. The Company’s proprietary software algorithms and EyeQ chips perform detailed interpretations of the visual field in order to anticipate possible collisions with other vehicles, pedestrians, cyclists, animals, debris and other obstacles. The Company’s products are also able to detect roadway markings such as lanes, road boundaries, barriers and similar items; identify and read traffic signs, directional signs and traffic lights; create a Roadbook of localized drivable paths and visual landmarks using REM; and provide mapping for autonomous driving. The Company’s products are or will be integrated into car models from more than 25 global automakers. The Company’s products are also available in the aftermarket.
Source: Intel
