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Intel Inches Closer to Wind River Deal
Intel Corp (INTC - Analyst Report) tendered a cash offer to purchase all outstanding common shares of Wind River Systems (WIND) through its wholly owned subsidiary, APC II Acquisition Corp, on June 11. The bid also includes rights to purchase shares of series A junior participating preferred stock at a price of $11.50 per share of common stock.
The offer was followed by a waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act). However, with the expiry of the waiting period on June 22, Intel is one step nearer to closing the deal.
Wind River is the global leader in Device Software Optimization (DSO). With the acquisition, Intel will possess Wind River’s expertise in running device software with greater reliability, at faster speed and at lower cost. The acquisition is expected to help Intel expand beyond the computing end market to embedded systems for mobile phones, smart phones and networking equipment.
Intel and WIND shares gained $0.29 and $0.03, respectively, in response to the news.
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| Market Summary | Feb 09, 2010 22:32 pm ET |
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