Intel (NASDAQ:INTC) +5.3% post-market Monday after announcing a definitive securities purchase agreement in which SoftBank (OTCPK:SFTBY) (OTCPK:SFTBF) will make a $2B investment in Intel common stock, paying $23/share.
“We are very pleased to deepen our relationship with SoftBank, a company that’s at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership,” Intel (NASDAQ:INTC) CEO Lip-Bu Tan said.
“This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role,” Softbank (OTCPK:SFTBY) (OTCPK:SFTBF) Chairman and CEO Masayoshi Son said.
Bloomberg reported earlier on Monday that the U.S. government is in talks to take a 10% stake in Intel (INTC).