Altera shareholders Cadian and TIG urge company to reconsider Intel offer
Several of Altera's (NASDAQ:ALTR) largest shareholders have written letters to the company urging it to resume negotiations with Intel (NASDAQ:INTC), according to a newswire report which cited people with knowledge of the situation.
Bloomberg, citing the sources, reported that Cadian Capital Management, which owns 2.8% of Altera, and TIG Advisors, which owns 1.5%, are among the shareholders that sent private letters to that effect. Other shareholders have sent letters, the people said.
Negotiations between Altera and Intel ended last week when Altera rejected Intel's takeover bid of approximately USD 54 per share, sources told the newswire on 9 April.