Intel Corporation likely to acquire chip maker Altera for $15 billion

Intel Corporation is likely to buy chip maker Altera Corporation for about $15 billion.

Earlier this year, the world?s largest chip maker, Intel Corporation had signed a standstill agreement with Altera Corporation which expires on June 1, 2015. In case the deadline for a buyout deal lapses, Intel Corporation can exercise the option of launching a hostile bid.

Altera Corporation in April 2015 reportedly turned down an unsolicited $54 per share offer from Intel Corporation following months of negotiations. However, challenges notwithstanding, both the companies are likely to close the deal over the next few months.