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Israel: Mobileye, Intel deal clears last antitrust hurdle

 |  August 1, 2017

On Tuesday, Israeli automotive technology firm, Mobileye, said that it had attained all of the antitrust clearances needed for Intel to acquire its shares. The company also said that a deadline for the share sale has now been set for August 7; earlier than the August 11 deadline.

Mobileye said in a statement on August 1 that it received the go-ahead for the deal from the Korea Fair Trade Commission only the day before, paving the way for the sale to proceed. The company had previously delayed the share sale to Intel to August 11, pending the approval, and said the full transaction is expected to close during the third quarter of the year.

US giant, Intel, said in March that it agreed to buy Mobileye, a Jerusalem-based developer of advanced vision and driver assistance systems, for US$15.3 billion, the largest-ever purchase of an Israeli tech firm.

Full Content: Times of Israel

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