Intel Sells 51% Stake in Altera Unit to Private Equity Firm Silver Lake
1. Intel sells 51% of Altera to Silver Lake for $8.75 billion. 2. Intel retains a 49% stake; Altera generated $1.54 billion revenue. 3. CEO Lip-Bu Tan emphasizes focus on expense reduction and balance sheet strength. 4. Altera's financial results will be excluded from Intel's statements post-deal. 5. Intel shares surged 6% following the announcement.