Chip giant Intel is close to a deal to buy fellow chip maker Altera Corp. for about $15 billion, according to New York Post.
The price could be for as much as $54 a share, or a 15 percent premium over Altera’s Thursday closing price of $46.97, a source close to the situation said.
The deal, if consummated, would be the biggest acquisition ever for the $160 billion market cap Intel — and help it move from PC sales into faster-growing sectors like Altera’s data center programmable chips.
Altera reportedly rejected an Intel $54 bid just a few months ago and then broke off sales talks, but that was before Altera issued disappointing earnings.
“A deal is likely by the end of next week,” according to a source, who also cautioned that the talks could still fall apart. Read more…