Silver Lake, Bain prepare to bid for stake in Intel’s Altera unit – Reuters
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Private equity firms Silver Lake and Bain Capital are among possible bidders expected to compete to acquire a stake in Intel’s Altera unit.
Intel (NASDAQ:INTC) started a process for a stake sale in Altera in recent weeks, according to a Reuters report on Monday, which cited people familiar with the matter. Intel is expected to receive initial offers from possible buyers in the coming weeks.
Buyout shop Francisco Partners is also interested in an Altera stake and is likely to also be a bidder, according to the report.
CNBC reported last month, Intel (INTC) is looking to raise billions of dollars from minority partners for its programmable chip unit Altera. Santa Clara, Calif.-based Intel is looking for investors to provide capital to the unit, which makes chips for high-performance communications and data center applications, and would value Altera at $17 billion.
Intel acquired Altera in 2015 for a sum of $16.7 billion.
Shares of Intel (INTC) fell 3% on Monday.