In the following, the "Jan 31 1998" date was in reference to the date after which Intel or Chips may unilaterally terminate the transaction if the tender offer has not been consummated. Please recall:
Intel Corporation Extends Offer for Chips and Technologies, Inc.
SANTA CLARA, Calif.--(BUSINESS WIRE)--Nov. 13, 1997--Intel Corporation today
announced that the expiration date for the $17.50 per share tender offer by
Intel's subsidiary, Intel Enterprise Corporation, for all outstanding shares of
common stock of Chips and Technologies, Inc., has been extended until 8 p.m.,
New York time, on Dec. 23, 1997.
This extension is the result of the previously announced Federal Trade
Commission request for additional information concerning the transaction under
the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Intel also announced
that it and Chips and Technologies, Inc. have agreed to amend their Merger
Agreement to extend to Jan. 31, 1998 the date after which either Intel or Chips
and Technologies may unilaterally terminate the transaction if the tender offer
has not been consummated.
As of the close of business on Nov. 12, 1997, approximately 14,113,200 shares of
common stock of Chips and Technologies, Inc., had been tendered in the tender
offer. This constitutes approximately 64 percent of Chips and Technologies
shares outstanding as of the tender offer.
Intel, the world's largest chip maker, is also a leading manufacturer of
personal computer, networking, and communications products. Additional
information is available at www.intel.com/pressroom . |
