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Report: Intel To Buy Altera?

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Intel Corporation (NASDAQ: INTC) is in talks to purchase Altera Corporation (NASDAQ: ALTR), according to a Dow Jones report.

The Wall Street Journal was unable to determine the terms of the deal, however, it would be Intel's largest takeover in its history.

At Friday's close, Altera had a market capitalization in excess of $13 billion.

"Intel and Altera have a history of cooperation. In 2013, Altera announced that it would begin using Intel technology in its chip designs. As part of a 12-year agreement between the companies, Intel agreed that Altera would be the only major programmable-chip maker for which it would help build products," according to The Wall Street Journal report.

The rumor had not been confirmed as of the market close on Friday and Altera declined to comment on the rumor to Benzinga.

Late Friday, shares of Intel surged 6.38 percent to close at $32.00.

Altera soared to $44.39 at the close, up 28.39 percent.

Posted-In: Dow JonesNews Wall Street Journal Rumors Media

 

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