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Intel extends offer for C&T

The expiration date for the $17.50-per-share tender offer by Intel for all outstanding shares of Chips and Technologies common stock is extended by three days.

Intel (INTC) announced today that the expiration date for the $17.50-per-share tender offer by Intel's subsidiary, Intel Enterprise Corporation, for all outstanding shares of Chips and Technologies (CHPS) common stock has been extended from January 19 until 8 p.m., New York time, on January 21.

Intel also announced that it now expects to receive, on or before January 13, the Federal Trade Commission's decision as to whether or not it intends to challenge the transaction.

As of close of business on January 5, approximately 13,735,000 shares of Chips and Technologies common stock had been tendered. This constitutes approximately 62 percent of Chips and Technologies shares outstanding as of the commencement of the tender offer.

[Intel is an investor in CNET: The Computer Network.]