Intel Announces Approval  For Proposed Acquisition Of Mobileye Under Israel Restrictive Trade Practices Law

Intel Announces Approval For Proposed Acquisition Of Mobileye Under Israel Restrictive Trade Practices Law

The approval from the Israeli Antitrust General Director satisfies a condition to the closing of the previously announced all cash tender offer by Cyclops Holdings LLC, a wholly owned subsidiary of Intel, to purchase all of the outstanding ordinary shares of Mobileye.

 

Intel Corp. has announced that the Israeli Antitrust General Director, in accordance with Section 20(b) of the Israel Restrictive Trade Practices Law, has approved the previously announced proposed acquisition of Mobileye N.V. by Intel on June 13.

The approval from the Israeli Antitrust General Director satisfies a condition to the closing of the previously announced all cash tender offer by Cyclops Holdings LLC, a wholly owned subsidiary of Intel, to purchase all of the outstanding ordinary shares of Mobileye.

Completion of the tender offer remains subject to additional conditions described in the tender offer statement. Such conditions include the receipt of regulatory approvals in certain non-U.S. jurisdictions and at least 95 percent of Mobileye’s outstanding shares (as such threshold may be lowered pursuant to the purchase agreement by and among Intel, Cyclops and Mobileye) being validly tendered and not withdrawn prior to the expiration of the tender offer (including any extensions). The tender offer will continue to be extended until all conditions are satisfied or waived, or until the tender offer is terminated, in either case pursuant to the terms of the purchase agreement and as described in the Schedule TO.

 

You May Also Like

Dana Participating in Easter Jeep Safari

The event will take place in Moab, Utah, March 23-31.

Dana to Participate in Easter Jeep Safari 2024

Dana Incorporated will participate in Easter Jeep Safari 2024, held March 23-31 in Moab, Utah. Dana products will be on site and available for demonstrations.

“At Dana, we are committed to rigorously testing and validating our products in the most challenging conditions to guarantee superior quality, durability, and performance,” said Bill Nunnery, senior director, sales and marketing, global aftermarket for Dana. “Easter Jeep Safari features rugged trails that offer us an ideal terrain for product trials. The event also gives us the opportunity to engage with Jeep enthusiasts and understand how we can enhance their off-road experiences through vehicle customizations.”

ZF Aftermarket Releases 80 New Parts

The latest additions expand coverage to more than 5 million vehicles in operation.

ZF Aftermarket Releases 80 New Parts
Schaeffler Highlights ESG Progress in 2023 Sustainability Report

Schaeffler is currently focusing on seven key ESG goals in the implementation of its sustainability strategy.

Schaeffler 2023 Sustainability Report
CMA, DoubleCoin to Showcase Long-Haul Steer Tires at MATS

Company reps will be on-site to answer questions, schedule meetings and coordinate a raffle of outdoor sporting equipment in booth #11140.

tire-distribution-outlook-tire-rack
GB Reman to Host Jackpot Giveaway Winner at Long Beach Grand Prix

Jon Hetzel, owner of Hesski ServiCenter in Levittown, Pennsylvania, will join GB Reman in the company’s hometown next month

GB Reman to Host Jackpot Giveaway Winner at Grand Prix of Long Beach

Other Posts

HDA Truck Pride Member Southside Trailer Service Expands

The company acquired PBS Brake & Supply in Syracuse, NY.

HDA Truck Pride Member Southside Trailer Service Expands
Bendix Surpasses Worker Safety Goals

Bendix says its Total Case Improvement Rate improved since 2022.

Bendix Announces Worker Safety Statistics
Vehlo Acquires Shop Management Software, Shop-Ware

Shop-Ware is a cloud-based shop management platform catering to independent automotive aftermarket repair shops.

Vehlo Acquires Shop Management Software, Shop-Ware
New Rislone ‘DEF Crystal Clean’ Clears P20EE Codes

The product scrubs away crystal contaminants from the selective catalytic reduction systems of diesel cars, trucks and SUVs.

New Rislone DEF Crystal Clean Diesel DEF & SCR Emissions System Cleaner Announced