After months of speculation, No. 1 semiconductor company Intel (INTC) announced early Monday that it has agreed to pay $54 a share, or $16.7 billion, for programmable chipmaker Altera (ALTR). In a joint Intel-Altera merger announcement, Intel said it expects the deal to add to its earnings per share in the first year after the deal closes, and that the acquisition is expected to be completed in six to nine months, following approval from
Intel (INTC) on Monday will announce a deal to buy Altera (ALTR) for nearly $17 billion, or about $54 a share, according to multiple reports, with the aim of reinforcing its dominance in server chips. That continues a recent run of semiconductor M&A, following last week’s $37 billion deal by Apple (AAPL) supplier Avago Technologies (AVGO) for Broadcom (BRCM). Intel-Altera deal buzz has waxed and waned since the Wall Street Journal reported talks
Consumer electronics juggernaut Apple (AAPL) is fanning out into new markets, including its recently unveiled smart watch and a rumored car project, leaving its top suppliers to contemplate their next moves as well. Apple has been a mainstay on the IBD 50 list of top-rated stocks along with three of its key suppliers: radio-frequency chipmaker Avago Technologies (AVGO), smartphone and power management chipmaker Skyworks Solutions (SWKS), and