Intel offered up to $6 billion for Israel's Mellanox: reports
Tweet
Share
E-mail
FILE PHOTO: The Intel logo is shown at E3, the world's largest video game industry convention in Los Angeles, California, U.S. June 12, 2018. REUTERS/Mike Blake/File Photo
TEL AVIV (Reuters) - U.S. chipmaker Intel Corp has bid $5.5-$6 billion in cash and stock to buy Israel's Mellanox Technologies, Israeli media reported on Wednesday.
A $6 billion offer would represent a 35 percent premium to the last closing price of Mellanox on Nasdaq, the Calcalist financial news website said.
Based in Yokneam, Israel, Mellanox makes chips and other hardware for data center servers that power cloud computing.
Officials at Intel and Mellanox declined to comment.
In October CNBC reported that Mellanox has hired a financial adviser to explore a sale after receiving takeover interest from at least two companies.
On Monday, Israeli Finance Minister Moshe Kahlon said Intel plans to invest $11 billion to expand its manufacturing operations in southern Israel.
(Reporting by Tova Cohen; Editing by Alexander Smith)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Meta AI agent ‘Muse’ triggers massive tech rally as chips and Wall Street soar
- Canada aims to cut time needed for project reviews, and address strikes
- Paramount, Warner Bros jump on report of settlement progress in merger fight
Create E-mail Alert Related Categories
General News, ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
