Wednesday 28 September 2016

Intel said to be nearing $15bn deal to buy Altera

Published 29/05/2015 | 08:57

Intel
Intel

Computer giant Intel, which has over 4,500 employees in Ireland, is close to a deal to buy smaller chip maker Altera for about $15 billion, according to reports.

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The deal price could be as much as $54 a share, a 15pc premium over Altera's Thursday closing price of $46.97, the New York Post reported, citing a source close to the situation.

"A deal is likely by the end of next week," the newspaper quoted the source as saying. The source also cautioned that the talks could still fall apart.

Intel signed a standstill agreement earlier this year with Altera that expires on June 1, giving the world's largest chipmaker the option to launch a hostile bid after that, Reuters reported in April, citing sources.

Altera in April rejected an unsolicited $54 per share offer from Intel following months of negotiations, the sources told Reuters.

Avago Technologies agreed on Thursday to buy Broadcom for $37bn the largest merger of chipmakers ever.

The merger is the industry's second megadeal this year and is unlikely to be the last, analysts told Reuters.

Intel and Altera could not be reached immediately for comments outside regular business hours.

Reuters

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