JERUSALEM, Israel, Aug. 1, 2017 /PRNewswire/ -- (NYSE: MBLY) –
Mobileye N.V. ("Mobileye" or the "Company"), the global leader in
Advanced Driver Assistance Systems and autonomous driving
technologies, today announced that on July
31, 2017 the Korea Fair Trade Commission approved
the previously announced all cash tender offer by Cyclops Holdings,
LLC ("Cyclops"), a wholly-owned subsidiary of Intel Corporation
("Intel"), to purchase all of the outstanding ordinary shares of
Mobileye pursuant to the Purchase Agreement, dated as of
March 12, 2017, by and among Intel, Cyclops and Mobileye
(the "Purchase Agreement").
As a result of the approval of the tender offer from the Korea
Fair Trade Commission, all required antitrust clearances have
now been obtained.
Mobileye also announced that Intel and Mobileye have agreed that
the tender offer will expire at 5:00 p.m., New York City time, on August 7, 2017, unless the tender offer is
extended or earlier terminated, in either case pursuant to the
terms of the Purchase Agreement. The tender offer was
previously scheduled to expire at 5:00
p.m., New York City time,
on August 11, 2017. Mobileye
shareholders are urged to tender their shares into the tender offer
prior to its expiration. Mobileye shareholders who have already
tendered and not withdrawn their ordinary shares of Mobileye do not
have to re-tender their shares or take any other action as a result
of the revision of the expiration date of the tender
offer.
Completion of the tender offer remains subject to additional
conditions described in the tender offer statement on Schedule TO
filed by Cyclops with the U.S. Securities and Exchange Commission
(the "SEC") on April 5, 2017 (as
amended and supplemented, the "Schedule TO"), including that at
least 67 percent of Mobileye's outstanding shares be validly
tendered and not withdrawn prior to the expiration of the tender
offer (including any extensions). Intel
further announced that if all of the conditions to the tender offer
are satisfied and the offer expires as now scheduled on
August 7, 2017, then Intel
anticipates that the closing of the tender offer will occur on
August 8, 2017.
D.F. King & Co. is acting as
information agent for the tender offer. Requests for documents and
questions regarding the tender offer may be directed to
D.F. King toll free at
(800) 966-9021 (for shareholders) or collect at
(212) 269‑5550 (for banks and brokers).
About Mobileye
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.
Additional Information and Where to Find It
This press release is for informational purposes only and is
neither an offer to purchase nor a solicitation of an offer to sell
any ordinary shares of Mobileye or any other securities. A
tender offer statement on Schedule TO, including an offer to
purchase, a letter of transmittal and related documents, has been
filed with the SEC by Intel and one or more of its subsidiaries and
a solicitation/recommendation statement on Schedule 14D-9, has been
filed with the SEC by Mobileye. The offer to purchase all of
the issued and outstanding ordinary shares of Mobileye will only be
made pursuant to the offer to purchase, the letter of transmittal
and related documents filed as a part of the tender offer statement
on Schedule TO, in each case as amended from time to time.
THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A
RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER
DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON
SCHEDULE 14D-9 CONTAIN IMPORTANT INFORMATION. INVESTORS AND
SHAREHOLDERS OF MOBILEYE ARE URGED TO READ THESE DOCUMENTS
CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT SUCH
HOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING
TENDERING THEIR ORDINARY SHARES. Investors and security
holders may obtain a free copy of these statements and other
documents filed with the SEC at the website maintained by the SEC
at www.sec.gov, at the transaction website
(http://intelandmobileye.transactionannouncement.com), or by
directing such requests to 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).
Forward-Looking Statements
This press release contains certain forward-looking
statements. Words such as "believes," "intends," "expects,"
"projects," "anticipates," and "future" or similar expressions are
intended to identify forward-looking statements. These
statements are only predictions based on the Company's current
expectations and projections about future events. You should
not place undue reliance on these statements. Many factors
may cause actual results to differ materially from any
forward-looking statement, including the risk factors and other
matters set forth in the Company's filings with the SEC, including
its Annual Report on Form 20-F for the year ended December 31, 2016. The Company does not
undertake any obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise, except as may be required by law.
Company Contact:
Dan Galves
CCO / SVP
dan.galves@mobileye.com
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SOURCE Mobileye N.V.