Altera to Be Acquired by Intel for $16.7 Billion
On June 1, 2015, Intel Corporation and Altera Corporation announced a definitive agreement under which Intel will acquire Altera for $54 per share in an all-cash transaction valued at approximately $16.7 billion. Wilson Sonsini Goodrich & Rosati is advising Altera in the transaction.
According to a joint company press release, the acquisition will couple Intel's leading-edge products and manufacturing process with Altera's leading field-programmable gate array (FPGA) technology. The combination is expected to enable new classes of products that meet customer needs in the data center and Internet of Things market segments. Intel plans to offer Altera's FPGA products with Intel Xeon® processors as highly customized, integrated products. The companies also expect to enhance Altera's products through design and manufacturing improvements resulting from Intel's integrated device manufacturing model.
The transaction has been unanimously approved by the Intel and Altera boards of directors and is subject to certain regulatory approvals and customary closing conditions, including the approval of Altera's stockholders.
The WSGR team advising Altera includes:
Corporate and M&A
Employee Benefits & Compensation
Real Estate & Environmental
Josephine Aiello LeBeau
For information, please see the transaction website: http://intelacquiresaltera.transactionannouncement.com.