Altera Shares Jump on Report of Merger Talks With IntelJack Clark
Altera Corp. shares jumped 28 percent after the Wall Street Journal reported that Intel Corp. was in talks to acquire the smaller semiconductor maker.
A deal would be the largest in Intel’s history, the newspaper reported.
Altera shares were up 28 percent at $44.41 at the close in New York. The company had a valuation of about $10.4 billion before the report of acquisition talks. Intel shares were up 6.4 percent at $32.
Intel’s biggest acquisition to date was the purchase of security software maker McAfee Inc. in 2010 for $6.59 billion. Altera makes a broad range of low-power programmable semiconductors, which are used in small embedded devices and computer servers for big data centers.
Chuck Mulloy, a spokesman for Santa Clara, California-based Intel, and Sue Martenson, a spokeswoman for San Jose, California-based Altera, declined to comment.