San Jose--Aug. 26, 1997--Chips and Technologies Inc. (San Jose) announced that it received a request from the Federal Trade Commission (FTC) for additional information in connection with the previously announced $17.50 per share cash tender offer by Intel's subsidiary, Intel Enterprise Corp., for all outstanding shares of Chips and Technologies.
Chips has been informed that Intel received a similar request from the FTC. This "second request" extends the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, during which the FTC is permitted to review the transaction until 10 calendar days after Intel has complied substantially with the information request. Chips intends to comply with the request, and understands that Intel also intends to comply. Chips also understands that Intel is reviewing the request and is not yet in a position to determine the date to which it will extend the tender offer.
Chips and Technologies
San Jose, CA
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