Altera Rises in German Trading as Intel Deal Said to Be Near

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Altera Corp. shares rose in German trading as Intel Corp. is said to be near a deal to acquire the chipmaker and add to a record year for industry consolidation.

Terms of the deal couldn’t be learned. New York Times reported that Intel is close to an agreement to buy its smaller rival for about $54 a share, or about $15 billion.

The world’s largest chipmaker would use Altera’s semiconductor designs to expand beyond the market for personal computers, New York Times said, citing an unidentified person with knowledge of the talks.

Shares of Altera, which makes a broad range of low-power programmable chips, rose 6.1 percent to the equivalent of $51.83 in Frankfurt trading as of 12:09 p.m. The stock added 4 percent to $48.85 on Friday in New York, giving the San Jose, California-based company a market value of $14.7 billion.

Intel gained less than 1 percent to the equivalent of $34.60 in Frankfurt.

Altera rejected an offer of about $54 a share from Santa Clara, California-based Intel in April, people with knowledge of the matter said at the time.

The chipmakers have held on-again, off-again talks since earlier this year, people with knowledge of the matter have said. Altera’s earlier rejection spurred some shareholders to pressure the company to reconsider an offer they thought valued Altera higher than it could reach on its own.

Representatives of Altera and Intel declined to comment Friday on the possibility of a deal and didn’t immediately respond to e-mails seeking comment outside of U.S. business hours on Monday.

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