Intel sells 51% of Altera to Silver Lake at $8.75B enterprise value; net proceeds ~$4.4B

INTEL CORP

Silver Lake affiliate to buy 51% of Altera for implied $8.75B enterprise value; net cash proceeds to Intel expected ~$4.4B.
$1B of proceeds deferred: $500M due Dec 31, 2026, $500M due Dec 31, 2027; no contingencies.
Intel retains 49% stake; board with 2 Intel directors, 3 Silver Lake directors, plus CEO; Silver Lake has voting majority.
Intel to continue wafer manufacturing for Altera under Foundry Agreement through 2040; if Intel discontinues 10nm wafers before 2031, Intel pays $2.25B penalty.
Transaction expected to close by Aug 12, 2025, subject to regulatory approvals and other conditions.

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