JERUSALEM, June 14, 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 Israeli Antitrust Authority
(the "Authority") notified the Company that the Authority's General
Director had 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, in accordance with the
Israel Restrictive Trade Practices Act, 5748-1988.
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% of Mobileye's
outstanding shares (as such threshold may be lowered pursuant to
the purchase agreement by and among Intel, Cyclops 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Mobileye) being validly tendered and not withdrawn prior to the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 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 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 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.