Lattice Semiconductor (LSCC.US) is reportedly considering a bid for Intel's (INTC.US) programmable chip business Altera.
1min read Lydia Semiconductor (LSCC.US) is reportedly evaluating a bid for Intel's (INTC.US) programmable chip business Altera.
People familiar with the matter said that Lattice Semiconductor is working with advisers and looking for private equity investors as it considers a bid for Altera.
Private equity firms Francisco Partners, Bain Capital and Silver Lake Capital are said to be studying investment proposals for Altera, which may also attract interest from other semiconductor companies.
The deadline for bids for Altera is before next week's Thanksgiving holiday, according to people familiar with the matter. Intel is looking to sell a minority stake in Altera, rather than the entire business.
Media reported last month that Intel was seeking to raise billions of dollars from minority partners for Altera, which was valued at $17bn.
Private equity firms are said to be considering investments of about $3bn in Altera, which may take the form of structured instruments.
Intel bought Altera for $16.7bn in 2015.