Intel Finishes Tender Offer of Firm’s Shares

Intel Corp. said it completed its tender offer of the outstanding shares of Chips & Technologies Inc., eight days after U.S. antitrust authorities approved Intel’s $420-million acquisition. Intel said that about 23.2-million shares of San Jose-based Chips & Technologies were tendered and accepted, accounting for about 97.6% of outstanding shares. Intel said it plans to complete its acquisition of Chips & Technologies’ remaining shares before Jan. 31, by merging Intel Enterprise Corp., a subsidiary, with Chips & Technologies. After a seven-month review, the Federal Trade Commission voted on Jan. 13 not to go to court to block the transaction for the time being. Instead, it took the unusual step of keeping the review open while letting the companies close the transaction. Intel’s computer chips, including the Pentium, power more than 85% of the world’s computers. The Santa Clara-based company has been banking on the purchase of Chips & Technologies, the biggest maker of products that speed the display of images on laptop computers, to expand sales.