Citi says Elon Musk was reportedly mentioned as a potential buyer of Intel (INTC) behind the paywall of SemiAccurate, the website that broke the news this morning of takeover interest in the chipmaker. Citi would view this as a “poor outcome” for Intel unless it was able to hire a CEO who would exit the merchant foundry business and have the three qualifications of advanced manufacturing experience, technical acumen, and Intel experience, the analyst tells investors in a research note. The firm keeps a Neutral rating on Intel with a $22 price target The stock in afternoon trading is up 9% to $21.40.
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