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Apollo to Offer Multibillion-Dollar Investment in Intel

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Apollo Global Management Inc. has offered to make a multibillion-dollar investment in Intel Corp., according to people familiar with the matter, in a move that would be a vote of confidence in the chipmaker’s turnaround strategy.

Stacy Rasgon, managing director and senior analyst at U.S. Semiconductors, Bernstein, joins BNN Bloomberg and talks about Intel stock rises as it weighs options

The alternative asset manager has indicated in recent days it would be willing to make an equity-like investment of as much as $5 billion in Intel, said one of the people, who asked not to be identified discussing confidential information. Intel executives have been weighing Apollo’s proposal, the people said. The size of Apollo’s potential investment could change or discussions could fall apart, they said.

Intel’s shares rose about 2% in premarket trading before New York markets opened on Monday. The stock had closed 3.3% higher at $21.84 on Friday, giving the company a market value of $93.4 billion.

 

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