TSM - Intel In Advanced Talks With Apollo For $11B Ireland Plant Partnership: Report | Benzinga
Intel Corp (NASDAQ:INTC) is reportedly in advanced talks for a transaction in which Apollo Global Management, Inc. (NYSE:APO) would supply more than $11 billion to help the chip giant build a plant in Ireland.
The two companies are in exclusive negotiations for a deal that could materialize in the upcoming weeks, barring any unexpected obstacles, according to a report from the Wall Street Journal.
Previously, several other investment firms, such as KKR & Co Inc (NYSE:KKR) and Stonepeak, were also contenders until Apollo gained the lead, the report mentioned.
Chief Executive Pat Gelsinger is overseeing Intel’s expansion, constructing or enhancing facilities in Arizona, Ohio, and Ireland, among other locations, to meet the rising chip demand.
These ventures also aim to bolster Intel’s contract chip-making business, competing with industry giants Taiwan ...