(Reuters) -U.S.-based asset administration firm Apollo International Administration (NYSE:) has supplied to make an funding of as a lot as $5 billion in Intel (NASDAQ:), Bloomberg Information reported on Sunday.
Apollo has indicated in latest days it will be prepared to make an equity-like funding of billions of {dollars} in Intel, the report stated, citing an individual acquainted with the matter.
The information comes at a second of weak spot for Intel, which was as soon as probably the most helpful chipmaker on this planet, however whose shares have misplaced practically 60% of their worth because the begin of the 12 months.
Intel executives have been weighing Apollo’s proposal, Bloomberg reported, including that talks concerning the deal are in a preliminary stage and haven’t been finalized.
Bloomberg stated that the dimensions of the potential funding in Intel may change and discussions concerning a deal may additionally fall via.
Intel declined to touch upon the Bloomberg Information report, whereas Apollo didn’t reply to a Reuters’ request for remark.
Earlier this 12 months, Apollo stated it’ll purchase a 49% fairness curiosity in a three way partnership associated to Intel’s new manufacturing facility in Eire for $11 billion.
The event for an funding in Intel comes quickly after Qualcomm (NASDAQ:) has in latest days approached Intel to discover a possible acquisition of the troubled chipmaker in what may very well be a transformational deal within the sector however faces many hurdles.
Qualcomm CEO Cristiano Amon is personally concerned within the negotiations to amass five-decade-old Intel, that are at the moment in an early stage, Reuters reported on Friday citing a supply who was briefed on the matter.
Beforehand, Qualcomm has additionally explored buying items of Intel’s chip design enterprise.
