Texas Instruments Extends Cash Tender Offer for Shares of Integrated Sensor Solutions
Dallas (July 6, 1999) - Texas Instruments (NYSE:TXN) today announced that TI and its wholly-owned subsidiary, Sensor Acquisition Corporation, have extended their tender offer for all of the issued and outstanding shares of common stock of Integrated Sensor Solutions, Inc. (NASDAQ:ISNR) at a price of $8.05 per share, net to the seller in cash, until midnight, EDT, on Friday, July 16, 1999. The tender offer was previously scheduled to expire at midnight, EDT, on Friday, July 2, 1999.
Consummation of the offer is subject to satisfaction or waiver of various conditions specified in the offer to purchase, including receipt of requisite approvals under the German Cartel Act. German antitrust authorities have not yet completed their review of the proposed transaction.
TI has been advised by the depositary for the tender offer that as of close of business on July 2, 1999, 7,583,022 shares of Integrated Sensor Solutions common stock, or approximately 98.3 percent of the issued and outstanding shares, were validly tendered and not withdrawn in the tender offer.
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