Intel Gets U.S. Regulatory Approval For Proposed Acquisition Of Mobileye

(RTTNews) - Intel Corp. (INTC) said that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended , with respect to the proposed acquisition of Mobileye N.V. (MBLY) by Intel expired effective June 9, 2017.

The expiration of the HSR waiting period 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 on Schedule TO filed by Cyclops Holdings with the U.S. Securities and Exchange Commission on April 5, 2017.

Such conditions include the receipt of regulatory approvals in certain non-U.S. jurisdictions and at least 95 percent of Mobileye's outstanding shares being validly tendered and not withdrawn prior to the expiration of the tender offer including any extensions.

In March 2017, Intel Corp. said that it agreed to buy Mobileye N.V. for $63.54 per share in cash, representing an equity value of about $15.3 billion and an enterprise value of $14.7 billion.