Intel And Altera Reportedly End Takeover Talks

(RTTNews) - Takeover talks between Intel Corp. (INTC) and Altera Corp. (ALTR) have ended after the companies failed to reach an agreement on price, CNBC reported.

In late-March, the Wall Street Journal reported that Intel was in advanced talks to buy programmable chipmaker Altera. The several media reports then said the purchase price could exceed $10 billion.

In mid-march, Chip-maker Intel lowered its first-quarter revenue outlook, citing weaker-than-expected demand for business desktop computers and lower inventory levels across the personal computer supply chain.

INTC is currently trading at $31.26, down $0.05 or 0.16%. ALTR is trading at $41.37, down $0.63 or 1.50%.