Intel Announces Plans to Buy McAfee for $7.68 Billion
Intel Corp, a chip maker, has announced plans to purchase McAfee Inc. for $7.68 billion at $48 per share. The per share price is a premium of 62 percent over McAfee’s closing price of $29.93 a share yesterday.
Shares shot up by 58 percent today following the announcement of the deal to $47.42. According to Intel, the deal demonstrates “that security is now a fundamental component of online computing.”
“The cyber threat landscape has changed dramatically over the past few years, with millions of new threats appearing every month,” said McAfee president and CEO Dave DeWalt. “We believe this acquisition will result in our ability to deliver a safer, more secure and trusted Internet-enabled device experience.”
The boards for each firm have unanimously approved the deal. McAfee’s shareholders still need to provide their approval.
Related posts:
