Intel has reportedly dropped any acquisition talks with Altera, according CNBC. The Wall Street Journal reported last month that Intel was considering buying the company, which has a market value of $US10.4 billion.
Following CNBC’s report, Altera stock has dropped by more than 11% in pre-market trading.
Neither party could agree on a price, according to CNBC, and the two companies haven’t spoken in more than a week. Intel’s initial offer was said to be around $US50 per share.