Intel Corp. (INTC), the world's biggest chipmaker, said Wednesday that the U.S. antitrust waiting period with respect to its proposed $884 million acquisition of Wind River Systems Inc. (WIND) expired at 11:59 p.m. EDT on June 22.
Earlier this month, Intel announced that it has agreed to buy Wind River Systems to grow its processor and software presence outside the traditional PC and server market segments into embedded systems and mobile handheld devices.
Intel, through its wholly owned subsidiary APC II Acquisition Corp., on June 11 commenced a cash tender offer to buy all outstanding shares of Wind River, including rights to purchase shares of Series A Junior Participating Preferred Stock at a price of $11.50 per share.
The tender offer will expire at midnight EDT on July 9 unless it is extended in accordance with the merger agreement and the applicable rules and regulations of the Securities and Exchange Commission.
Expiration of the antitrust waiting period satisfies one of the conditions of the tender offer.
Intel shares are currently trading at $16.16, up 35 cents or 2.21%, while Wind River shares are currently trading at $11.46, up 3 cents.
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