Intel shortlists buyout firms for next Altera unit bidding round - report

Investing.com -- Intel Corp (NASDAQ:INTC ). has narrowed down a list of buyout firms for the next round of bidding for its Altera unit, Bloomberg News reported citing individuals who are familiar with the situation. This move is part of the progress the struggling chipmaker is making on a process initiated by its former chief executive officer.

Among the private equity firms competing in the second round for Altera, a company specializing in the design of low-power programmable chips, are Francisco Partners and Silver Lake Management. They are being challenged by Lattice (OTC:LTTC ) Semiconductor Corp.

Two additional firms, Apollo Global Management (NYSE:APO ) Inc. and Bain Capital, are also showing interest in acquiring Altera, according to the same sources.

Intel has set a deadline for the end of January for these potential buyers to formalize their offers. However, it's possible that more bidders could emerge, or the process could conclude without a sale, the sources added.

When asked for comments, representatives from Intel, Apollo, Bain Capital, Francisco Partners, and Silver Lake declined. A spokesperson for Lattice did not immediately respond to a request for comment.

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Source: Investing.com