Intel Recommends Stockholders Reject TRC Capital's "Mini-Tender" Offer
SANTA CLARA, Calif.--(BUSINESS WIRE)--
Intel Corporation recently learned of an unsolicited "mini-tender offer"
made by TRC Capital Corp. to Intel stockholders to purchase up to 4
million shares of Intel common stock at $23.75 per share. TRC Capital's
offer price is approximately 4.96 percent below the closing share price
of Intel common stock on June 13, 2013 ($24.99), the day before the
offer commenced, and the offer is for less than 1 percent of Intel's
outstanding shares.
Intel does not endorse TRC Capital's mini-tender offer and recommends
that Intel stockholders reject the offer and not tender their shares in
response to the offer. This mini-tender offer is at a price below the
market price for Intel shares (as of the date Intel received notice of
the offer) and is subject to numerous conditions. TRC Capital's offer
states that it may terminate or amend the offer if, among other things,
the market price of Intel's stock declines, or if TRC Capital fails to
obtain financing necessary to consummate the offer. Intel is not
associated in any way with TRC Capital, its mini-tender offer or the
offer documentation.
Intel urges investors to obtain current market quotations for their
shares, consult with their broker or financial adviser, and exercise
caution with respect to TRC Capital's offer. Intel stockholders who have
already tendered their shares may withdraw their shares by providing
notice in the manner described in the TRC Capital documents prior to the
expiration of the offer, which is currently scheduled at 12:01 a.m.
Eastern time on Tuesday, July 16, 2013, unless extended.
TRC Capital has made many similar mini-tender offers for shares of other
companies. Because TRC Capital's mini-tender offer is for less than 5
percent of Intel's outstanding shares, it is not subject to many of the
disclosure and procedural requirements of Securities and Exchange
Commission (SEC) rules that are designed to protect investors. The SEC
has cautioned investors about these offers, noting that they "have been
increasingly used to catch investors off guard." The SEC's tips for
investors regarding mini-tender offers may be found on the SEC's Web
site at http://www.sec.gov/investor/pubs/minitend.htm.
Intel encourages brokers and dealers, as well as other market
participants, to review the SEC's letter regarding broker-dealer
mini-tender offer dissemination and disclosures at www.sec.gov/divisions/marketreg/minitenders/sia072401.htm;
and the NASD Notice to Members 99-53, issued in July 1999, regarding
guidance to members forwarding mini-tender offers to their customers,
which can be found athttp://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p004221.pdf.
Intel requests that a copy of this press release be included with all
distributions of materials relating to TRC Capital's mini-tender offer.
Intel (NASDAQ: INTC) is a world leader in computing innovation. The
company designs and builds the essential technologies that serve as the
foundation for the world's computing devices. Additional information
about Intel is available at newsroom.intel.com
and blogs.intel.com.
Intel is a trademark of Intel Corporation in the United States and other
countries.
*Other names and brands may be claimed as the property of others.

Intel Corporation
Investor Relations:
Mark Henninger,
408-653-9944
mark.h.henninger@intel.com
or
Media
Relations:
Chris Kraeuter, 408-653-5358
chris.kraeuter@intel.com
Source: Intel Corporation
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Released Jun 18, 2013 • 12:00 AM EDT