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Altera report doesn't mean deal is off, says Raymond James
A report from CNBC that claims Altera (ALTR) has rejected an all-cash offer from Intel (INTC) in the low $50 range does not mean the matter is over, according to Raymond James, which said it would not be surprised if the news was leaked by Intel to try to compel Altera to strike a deal. The firm views Altera as being in a position of strength and thinks it may demand a per share price in the $60s. Raymond James added that it does not view Xilinx (XLNX) as an alternative option, since its technology in compilers lags Altera's. The firm has an Underperform rating on Intel shares