Intel’s rapid decline has spurred takeover speculations
Arm Holdings Plc approached Intel Corp. about potentially buying the ailing chipmaker’s product division, only to be told that the business isn’t for sale, according to a person with direct knowledge of the matter.
Intel’s rapid stock decline supped takeover speculations
Intel’s rapid decline has spurred takeover speculations by @Arm #intel #chips #ai #arm pic.twitter.com/k3C0bN5Asm
— The_Journalbiz (@the_journalbiz) September 27, 2024
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In the high-level inquiry, Arm didn’t express interest in Intel’s manufacturing operations, said the person, who asked not to be identified because the discussions were private.
Intel has two main units: a product group that sells chips for personal computers, servers and networking equipment, and another that operates its factories.
- Arm is interested in the product group, not factory operations
Intel, once the world’s largest chipmaker, has become the target of takeover speculation since a rapid deterioration of its business this year. The company delivered a disastrous earnings report last month — sending its shares on their worst rout in decades — and is slashing 15,000 jobs to save money. It’s also scaling back factory expansion plans and halting its long-cherished dividend.
