M&A - INTEL CORP

Form Type: 8-K

Filing Date: 2025-04-17

Corporate Action: Acquisition

Type: New

Accession Number: 000005086325000063

Filing Summary: On April 14, 2025, Intel Corporation entered into a transaction agreement to sell a majority interest in its Altera business to SLP VII Gryphon Aggregator, L.P., resulting in a purchase of 51% of Altera's common stock for an enterprise value of $8.75 billion. This transaction is expected to yield approximately $4.40 billion in net cash proceeds after adjustments. The deal involves phased payments of $1 billion in deferred cash installments, subject to specific market conditions. The closing of the transaction is contingent on customary legal and regulatory approvals and other financial representations. Additional agreements accompanying the transaction address the separation of the business from Intel, along with implications for employee equity awards and indemnification details. The transaction is critical as it encompasses restructuring aspects of Intel's operations while maintaining a partnership framework post-acquisition.

Form Type: 8-K

Filing Date: 2025-04-14

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525079727

Filing Summary: On April 14, 2025, Intel Corporation announced a joint agreement with Silver Lake regarding a Transaction Agreement. Silver Lake will acquire a controlling fifty-one percent (51%) ownership stake in Intel's wholly owned subsidiary, Altera Corporation. This agreement is part of a strategic move to enhance the independence of Altera and leverage potential benefits from this acquisition. The press release outlines various forward-looking statements regarding the sale and associated risks, including regulatory approval, completion timelines, and potential impacts on Intel and Altera's operations. Intel cautions that these outcomes could differ due to various uncertainties and stresses the significance of reviewing the various risks outlined in its disclosures to the SEC.

Form Type: 8-K

Filing Date: 2025-03-28

Corporate Action: Acquisition

Type: Update

Accession Number: 000005086325000060

Filing Summary: On March 27, 2025, Intel Corporation completed the second closing of its acquisition agreement with SK hynix Inc. This transaction was first announced on October 19, 2020. The acquisition involved the transfer of Intel's NAND memory fabrication facility in Dalian, China, its NAND solid-state drive business, and NAND memory technology and manufacturing assets. Intel received approximately $1.9 billion at the second closing, which is net of certain adjustments. Following the second closing, a previously established NAND wafer manufacturing and sale agreement with SK hynix has been terminated.