Intel's (NASDAQ:INTC) acquisition of Altera, a programmable chip specialist, could be announced next week, according to reports, amid a M&A spree in the semiconductor industry.
Apple (NASDAQ:AAPL) Singapore iPhone chip supplier Avago Technologies (NASDAQ:AVGO) and Broadcom (NASDAQ:BRCM) confirmed on Thursday a $37 billion merger that would create the world's No. 3 chipmaker.
Intel's standstill agreement with Altera (NASDAQ:ALTR) expires on June 1, giving Intel the option of launching a hostile takeover. But the two companies may have reached a deal, according to a NY Post report.
Intel had also been viewed as a possible buyer of Broadcom, which sells communications networking and broadband chips. If combined, Avago and Broadcom will have annual revenue of about $15 billion, behind Intel and Qualcomm (NASDAQ:QCOM), and ahead of Texas Instruments (NASDAQ:TXN).
NXP Semiconductor (NASDAQ:NXPI), another Apple supplier, agreed in March to buy Freescale Semiconductor (NYSE:FSL) for $11.8 billion.
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