Investing.com– Asset supervisor Apollo International Administration (NYSE:) supplied to make an funding of as much as $5 billion in beleaguered chipmaker Intel Company (NASDAQ:), Bloomberg reported on Sunday.
The asset supervisor indicated that it could be keen to make an equity-like funding in Intel, the Bloomberg report stated, with high administration of the chipmaker contemplating the provide.
The fairness funding would grant Intel some a lot wanted respiration room, as the corporate grapples with a pointy decline in gross sales and a possible money crunch. Intel plans to shave off a number of enterprise as a part of a serious restructuring, with the chipmaker having introduced job cuts for as a lot as 15,000 workers earlier this yr.
Intel may cut up off its foundry enterprise from its design enterprise.
Apollo had earlier this yr stated it would purchase a 49% curiosity in a three way partnership for Intel’s new manufacturing facility in Eire for $11 billion.
Reuters reported final week that Qualcomm Included (NASDAQ:) was contemplating a takeover of the chipmaker, though such a deal was prone to face a number of regulatory hurdles.
As soon as the world’s most precious chipmaker, Intel’s shares are nursing a 60% droop thus far this yr, as its lagging of rivals TSMC (NYSE:) and NVIDIA Company (NASDAQ:) got here to a head in recent times.
