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Intel begins $11.50-per-share tender offer for Wind River Systems
By Lisa Kerner
Charlotte, N.C., June 11 - Intel Corp. began its $11.50-per-share cash tender offer for Wind River Systems Inc., according to a schedule TO-T filed with the Securities and Exchange Commission on Thursday.
The offer will end at midnight ET on July 9, the filing said.
As previously reported, Intel agreed to acquire Wind River for $11.50 per share in a deal valued at approximately $884 million.
Wind River's board of directors has unanimously approved the transaction, which is expected to close in the summer of 2009.
A $30 million termination fee is included in the companies' merger agreement, the filing said.
Intel is a semiconductor chip maker based in Santa Clara, Calif.
Wind River, based in Alameda, Calif., develops, markets and sells operating systems, middleware and software development tools to develop, run and manage device products.
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