Intel Corp. and programmable logic vendor Altera Corp. have ended acquisition negotiations without reaching a deal, according to a report by financial news network CNBC.
The report, which cites an unnamed source, says talks broke down after the two firms failed to reach an agreement on price. The companies have not spoken in more than a week, according to the report.
The Wall Street Journal reported in late March that Intel was in talks to acquire Altera. The acquisition would have been the largest buyout in Intel’s history, topping the $7.7 billion the world’s largest chip maker paid for security software vendor McAfee in 2011.
Altera (San Jose, Calif.) had a market capitalization of $10.4 billion prior to the Wall Street Journal article appearing on March 29. The firm's market capitalization subsequently shot up to more than $13 billion.
CNBC reported April 9 that Intel’s offer for Altera was in the neighborhood of the “low $50 per share range.” Altera’s stock traded at $43.10 late on April 9.
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