Intel receives Israel Tax Authority ruling on asset sale related to Mobileye acquisition

Acquisition expected to complete before the end of this year

The Israel Tax Authority has issued a ruling with respect to the tax treatment of the potential asset sale, liquidation and second step distribution in connection with Intel's cash tender offer for acquisition of Mobileye, said a Mobileye press release on 14 July. Subsequent to the ruling, the minimum number of the outstanding shares of Mobileye that needs to be validly tendered and not withdrawn prior to the expiration of the offer has been lowered from 95% to 67%.