UPDATE 2-Intel close to deal to buy Altera for $16 bln -sources

29 May 2015 | Author: | No comments yet »

Intel reportedly close to purchasing Altera for $15 billion.

Intel and Altera are apparently once again on speaking terms and said to be nearing a deal in which Intel would buy the smaller chip maker for US$15 billion. News of a possible deal first surfaced in media reports in late March, but those negotiations broke down after Altera supposedly rejected a bid of $54 per share from Intel in early April.

Altera, on the other hand, manufactures chips called field-programmable gate arrays (FPGAs), which can be reprogrammed to handle specific tasks and are used by companies in the medical, automotive and industrial fields. The merger could be finalized by the end of next week, but it is still possible that talks could falter again, according to the Post’s article, which is based on information from anonymous sources and went up on the newspaper’s website late Thursday.

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