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Investing.com -- Silver Lake Management, a private equity firm, is currently in exclusive negotiations to acquire a majority stake in Altera, the programmable chips unit of Intel Corp (NASDAQ:INTC)., according to Bloomberg, citing individuals familiar with the matter. The multi-use chips produced by Altera are primarily utilized in telecommunications networks.
The exact size of the stake is still under discussion, and while the talks are at an advanced stage, there is a possibility that they could be delayed or even fail, said the sources.
Last year, as part of a larger plan to revitalize its business, Intel announced its intention to sell a stake in Altera. In November, it was reported that Altera was attracting attention from Lattice (OTC:LTTC) Semiconductor Corp. and a consortium of buyout firms.
Earlier today, Intel Corp.’s shares rose by 13% following a Wall Street Journal report over the weekend suggesting that Broadcom (NASDAQ:AVGO) might be considering a bid for Intel’s chip design and marketing business. This news follows other recent reports indicating that TSMC is preparing to acquire a stake in Intel’s manufacturing operations.
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