Intel may not be quite in the driver’s seat with its deal to buy Mobileye, a tech analyst requesting anonymity told On the Money.
The chip giant last week reached a $15 billion deal to buy the Israeli tech company that makes computer vision systems for most carmakers.
Intel agreed to pay a relatively high 39 times projected 2018 earnings to reach a deal since Mobileye was not on the market.
However, Mobileye could be looking to see if it can get higher offers, the analyst said.
The merger agreement has some unusual language. Mobileye, for example, can only take a superior proposal that is 10 percent higher than Intel’s current offer of $63.54.
Research firm William Blair in a March 13 report lists Apple, Google and Uber as companies that may have the financial wherewithal and strategic interest to offer a much higher price.