Intel Says Israeli Regulator Approves Proposed Acquisition Of Mobileye

(RTTNews) - Intel Corp. (INTC) said that the Israeli Antitrust General Director has approved the proposed acquisition of Mobileye N.V. (MBLY) by Intel on June 13, 2017.

The approval from the Israeli Antitrust General Director 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.

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.