Apollo Global (APO) has offered to make a multibillion-dollar investment in Intel (INTC), in a move that would be a vote of confidence in the chipmaker’s turnaround strategy, Bloomberg’s Liana Baker, Ryan Gould, and Ian King report, citing people familiar with the matter. The alternative asset manager has indicated in recent days it would be willing to make an equity-like investment of as much as $5B in Intel, said one of the people. Intel executives have been weighing Apollo’s proposal, the people said. The development comes as Qualcomm (QCOM) floats a friendly takeover of Intel, people with knowledge of the matter said on Saturday, raising the prospect of one of the biggest-ever M&A deals.
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