Intel Corp Narrows Down Buyout Firms for Altera Unit

Investing.com — Intel Corp (NASDAQ:INTC) has narrowed down its list of buyout firms for the next round of bidding for its Altera unit, according to Bloomberg News and sources familiar with the situation. This action is part of progress made by the struggling chipmaker, following initiatives from its former CEO.

Among those competing for Altera, a company known for designing low-power programmable chips, are private equity firms Francisco Partners and Silver Lake Management, along with Lattice (OTC:LTTC) Semiconductor Corp, who are also in the running.

Additionally, Apollo Global Management (NYSE:APO) Inc. and Bain Capital have expressed interest in acquiring Altera, as reported by the same sources.

Intel has set a deadline for the end of January for potential buyers to submit their formal offers. However, it is possible that more bidders may enter the fray or that the process may conclude without a sale, as noted by the sources.

When approached for comments, representatives from Intel, Apollo, Bain Capital, Francisco Partners, and Silver Lake did not respond. A spokesperson for Lattice also did not immediately reply.

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