Intel is paying $16.7 billion in an all-cash deal to buy smaller peer Altera, the second major acquisition in the semiconductor sector in less than a week.
Altera stockholders will get $54 for each sharethey own from Intel, a deal that’s expected to close within six to nine months. Shares of Altera were trading at around $35 apiece in late March before rumors began to swirl that an acquisition could occur.
The Intel-Altera merger is being announced just a few days after Avago Technologies agreed to pay $37 billion in a cash-and-stock deal for Broadcom.
Both boards at Intel and Altera unanimously signed off on the deal. The transaction is expected to add to Intel’s adjusted earnings and free cash flow in the first year after closing.
Full content: The New York Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI