Intel's new move to "save itself": selling its "future core" Altera stake for $17 billion.
The media reported that intel is looking for interested PE and strategic investors this week, may sell the majority of Altera shares. Intel acquired the programmable chip business Altera for $16.7 billion in 2015 and made it a subsidiary in February this year, seeking an IPO in 2026. Intel's CEO also said last month that Altera is a core part of the company's future.
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Intel may sell stakes in business from its subsidiary Altera.
On Friday morning Eastern Time, intel (INTC) stock price fell, reportedly seeking a large external investment for its Altera programmable chip manufacturing subsidiary. On Thursday night, it was reported that intel is seeking to sell a minority stake in the Altera subsidiary. intel values the company at around $17 billion. intel acquired Altera for $16.7 billion in 2015, spun it off as an independent company in February of the same year, and planned to split it through an initial public offering (IPO). intel did not immediately respond to media requests for comment.
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