Altera Shareholders Cadian, TIG Said to Push Sale to Intel

Cadian Capital Management and TIG Advisors are among Altera Corp. shareholders that have sent letters to the company’s management, urging them to return to the negotiating table with Intel Corp., people with knowledge of the matter said.

The letters question Altera’s ability to create enough value on its own to match Intel’s offer, said the people, who asked not to be identified because the letters are private. Several other of Altera’s largest investors also have sent letters, two of the people said. Intel bid about $54 a share for Altera, people familiar with the matter said last week.