Intel is close to a deal to buy fellow chipmaker Altera for about for about $15B

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Intel is close to a deal to buy fellow chipmaker Altera for about for about $15B

posted on May 29, 2015 06:58AM

Intel is close to a deal to buy fellow chipmaker Altera (NASDAQ:ALTR) for about $15B, the NY Post reports, stating that a deal is "likely by the end of next week." Altera reportedly rejected an Intel (NASDAQ:INTC) $54/share bid just a few months ago and then broke off sales talks, but that was before Altera issued disappointing earnings. Intel also has the option to launch a hostile bid after June 1, when its standstill agreement with Altera expires.

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