Shares of Intel (NASDAQ: INTC) were moving higher today on reports that the legacy chip giant could be acquired.
While the buzz is just a rumor at this point, it was enough to send the stock up 8.2% as of 11:41 a.m. ET.
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Intel acquisition rumors are swirling again
A website following the semiconductor industry called SemiAccurate said its sources claimed that an unnamed company was trying to buy Intel.
SemiAccurate said it read an email from the acquirer sent to a small group of executives about buying Intel outright, and it's now 90% confident that the plan is real.
This isn't the first time that rumors have swirled about an acquisition as Intel has struggled. Qualcomm was also reportedly interested in buying Intel in September, or at least its chip-design division, though its interest was said to have cooled by November.
Could Intel be acquired?
Given the plunge in the stock price and its considerable assets, as well as brand name, an acquisition of Intel is certainly not farfetched.
Intel hasn't said it is looking to be acquired, but the business is currently without a permanent CEO, and the stock has been in free fall, losing 60% of its value last year.
Today's pop is a bit surprising, as SemiAccurate isn't a well-known publisher, and no other news source has confirmed the news. However, investors are clearly eager for good news about Intel, whether that's an acquisition or something else.
For now, I wouldn't bet on the company being acquired, but a buyout over the longer term is certainly a possibility.
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