Apollo Global Management, a U.S.-based asset management company has offered to make a multibillion-dollar investment in Intel Corp, according to reports. The investment firm planned to make an equity-like deal for the chipmaker. This strategic move could offer the chipmaker a vote of confidence in its business revamping strategy and as a substitute for a potential acquisition by a key rival Qualcomm Inc. Apollo decided to make this strategic move after San Diego bases Qualcomm planned to offer a friendly acquisition of Intel. The chipmaker has been diligently working to revamp its business model, as the business is experiencing one of the most challenging phases in its 56-year history. The decision-makers at Intel are exploring Appollo’s proposal, according to the report.
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Read More: Apollo Plans to Make USD 5 Billion Investment in Intel