Intel Corporation (INTC) Stock Prediction & Analysis: Silver Lake Deal for Altera Division Takes Shape
TLDR
- Intel stock rose 2.6% in pre-market trading on reports of Altera unit sale to Silver Lake
- Deal could value Altera at around $9 billion, well below $17 billion Intel paid in 2015
- Announcement expected as early as this week as part of ongoing restructuring
- New CEO Lip-Bu Tan exploring foundry expansion to make chips for NVIDIA and others
- Intel recently completed $1.9 billion sale of NAND memory business to SK hynix
Intel shares jumped in pre-market trading Monday after Bloomberg News reported the chipmaker is close to selling a majority stake in its programmable chips division, Altera, to private equity firm Silver Lake Management.
The stock climbed 2.6% as investors reacted positively to the potential deal.
This sale…
