Infineon is the latest to fall in the recent rush to buy up tech companies. Intel (NASDAQ:INTC) is close to reaching a deal for the wireless company.
New Deal Coming For Intel (NASDAQ:INTC)
As per the report appeared in Bloomberg, the agreement to buy the German based Infineon, the wireless unit of Neubiberg, is at the final stage and the companies are expected to make an official statement this week.
The report also states that the deal would be for an amount of $1.91 billion approximately.
The deal will help Intel (NASDAQ:INTC) to have a firm grip in the Smart phone industry.
Intel Stock Info
As of 8/27/2010 (Last trade – 12:00pm), the Intel (NASDAQ:INTC) shares are sitting at 18.23.
Over the past three months there has been a -16.5% movement in the Intel (NASDAQ:INTC) stock price.
Last Price: 18.23
52 Week Low / High: 18.12 / 24.37
Market Cap: 101560000
Consensus Analyst Opinion: Moderate Buy
Zack’s Industry Rank: 3 out of 6
We’ll be keeping a close eye on the Intel (NASDAQ:INTC) stock level for developments over the next couple of weeks.
