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Intel seeks billions for minority stake in Altera business, sources say [CNBC]
Last intel corporation earnings: 4/23 04:07 pm
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US:NASDAQ Investor Relations: intc.com/investor-relations/default.aspx
Any deal would look to value Altera at least what the $16.7 billion that Intel paid for it in 2015. It is possible that Intel would look to find a majority acquirer for the business. Intel is looking to sell at least a minority stake in its Altera subsidiary that would raise several billion dollars in cash for the struggling firm, according to people familiar with the matter. This move that would represent a sharp about face from its earlier public messaging about the larger company's prospects. The storied semiconductor firm has made overtures to a number of private equity and strategic investors this week, said the people, who requested anonymity to speak freely about confidential information. Intel has expressed to some of those investors that it would be possible to acquire a majority stake in the Altera business, which was valued at $16.7 billion when Intel acquired it in 2015, said one of the people. Intel is looking for a deal that values Altera at around $17 billion,
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- CNBC Daily Open: China posts better-than-expected economic data [CNBC][CNBC]
- Intel to cut workers in Austin amid cost-cutting move [Yahoo! Finance][Yahoo! Finance]
- Intel seeks billions for minority stake in Altera business, sources say [MSNBC.com][MSNBC.com]
- Intel rises even as Goldman Sachs cuts earnings estimates on 'muted' PC demand [Seeking Alpha][Seeking Alpha]
- Intel Co. (NASDAQ: INTC) had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $22.00 to $21.00. They now have a "sell" rating on the stock.[MarketBeat]
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