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Intel Says All Required Antitrust Clearances Received For Mobileye Acquisition

Intel Corp. (INTC) said that on July 31, 2017, the Korea Fair Trade Commission approved its previously announced tender offer to purchase all of the outstanding ordinary shares of Mobileye N.V. (MBLY).

The tender offer is being made pursuant to the purchase agreement, dated as of March 12, 2017, by and among Intel, its wholly owned subsidiary Cyclops Holdings LLC, and Mobileye.

As a result of the approval of the tender offer from the Korea Fair Trade Commission, all required antitrust clearances have now been obtained.

Further, Intel said that the company and Mobileye have agreed that the tender offer will expire at on August 7, 2017, unless the tender offer is extended or earlier terminated. It was previously scheduled to expire on August 11, 2017.

by RTTNews Staff Writer

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