Intel may have bailed on what could have been its biggest acquisition ever

Intel CEO Brian KrzanichRobert Galbraith/ReutersIntel CEO Brian Krzanich

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.


NOW WATCH: This Excel trick will save you time and impress your boss

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.