11:53 AM EDT, 05/13/2024 (MT Newswires) -- (Updates with additional details throughout and Intel ( INTC ) response in the final paragraph.)

Intel ( INTC ) is close to striking a deal with Apollo Global Management ( APO ) in which the asset manager would provide over $11 billion to the chip company for a new plant in Ireland, The Wall Street Journal reported Monday.

A potential deal could materialize in the upcoming weeks, the Journal reported, citing people familiar with the matter.

The deal is being spearheaded by Apollo's High Grade Capital Solution business, which usually offers financing to large investment-grade firms, the report said. Goldman Sachs ( GS ) is advising Intel ( INTC ) on the deal, the report added.

An Intel ( INTC ) spokesperson declined to comment on MT Newswires' queries, while Apollo did not immediately respond.

(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.)

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