Intel and Altera reported to have resumed M&A talks
According to the New York Post, Intel and Altera have renewed takeover talks.
Intel is reported to have offered $54 a share for Altera valuing it at $13 billion before breaking off talks with an agreement to suspend negotiations for a few weeks.
Now it is being said that a deal may happen within a matter of weeks.
Activist shareholders objected to the break-off of talks after Altera shares soared from their pre-bid-talks $34. Currently they’re trading at $46.
If paid in cash, the deal would take all Intel’s spare cash of about $14 billion, so it’s likely that the deal will be funded through debt and shares.