JERUSALEM, June 12, 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
the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended, has expired with respect to
the proposed acquisition of Mobileye by Intel. The expiration
of the Act's waiting period satisfies a transaction closing
condition related to the previously announced all cash tender
offer.
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 (the "SEC") on
April 5, 2017 (as amended and
supplemented, the "Schedule TO"). 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 between Intel 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Mobileye) being validly tendered and not withdrawn prior to the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 by and between Intel and Mobileye and as described in the
Schedule TO.
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 14-D 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 U.S. Securities
and Exchange Commission, 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.
