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Market Chatter: Intel Rejects Arm Holdings' Offer for Product Division, Bloomberg Says
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Market Chatter: Intel Rejects Arm Holdings' Offer for Product Division, Bloomberg Says
Oct 2, 2024 11:53 PM

06:29 AM EDT, 09/27/2024 (MT Newswires) -- Arm Holdings ( ARM ) approached Intel ( INTC ) about buying its struggling product division, but Intel ( INTC ) stated it is not for sale, Bloomberg reported on Friday, citing a person with direct knowledge of the matter.

The source told Bloomberg that Arm was only interested in Intel's ( INTC ) product group, which sells chips for PCs and servers, not its manufacturing operations.

Arm Holdings ( ARM ) declined MT Newswires' request for comment.

Intel ( INTC ) didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 148.50, Change: -0.66, Percent Change: -0.44

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