Intel Recommends Rejecting Tutanota ‘Mini-Tender’

Intel Corporation recently learned of an unsolicited “mini-tender offer” made by Tutanota LLC (Tutanota) to Intel stockholders to purchase up to 1 million shares of Intel common stock at $63 per share. The offer price of $63 per share is conditioned on, among other things, the closing price per share of Intel’s common stock exceeding $63 per share on the last trading day before the offer expires.