Intel rejected Arm's approach to buy product unit- report [Yahoo! Finance]
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Source: Yahoo! Finance
explore the possibility of acquiring its struggling product division, but Intel responded that the unit was not up for sale, Bloomberg News reported on Friday, citing a source with direct knowledge of the matter. The source, who requested anonymity due to the confidential nature of the discussions, said that Arm was not interested in Intel's manufacturing operations. Intel is split into two key divisions: a product group that develops chips for PCs, servers, and networking equipment, and a second division that manages its factories. Once the world's leading chipmaker, Intel has faced takeover speculation following a sharp decline in its business performance this year. The company recently reported disappointing earnings, resulting in the steepest decline in its share price in decades. Along with cutting 15,000 jobs to reduce costs, scaling back factory expansion, and suspending its long-standing dividend. As part of its restructuring efforts, Intel is separating its chip p
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