Exclusive: Hedge fund Third Point urges Intel to explore deal options
By Svea Herbst-Bayliss
(Reuters) - Activist hedge fund Third Point LLC is pushing Intel Corp to explore strategic alternatives, including whether it should remain an integrated device manufacturer, according to a letter it sent to the chipmaker's chairman on Tuesday that was reviewed by Reuters.
Third Point CEO Daniel Loeb wrote to Intel chairman Omar Ishrak calling for immediate action to boost the company's position as a major provider of processor chips for PCs and data centers. The New York-based fund has amassed a nearly $1 billion stake in Intel, according to people familiar with the matter.
Loeb said in the letter that Intel's most urgent task was addressing its "human capital management issue", as many of its talented chip designers have fled, "demoralized by the status quo".
Intel ...
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(Reuters) - Activist hedge fund Third Point LLC is pushing Intel Corp to explore strategic alternatives, including whether it should remain an integrated device manufacturer, according to a letter it sent to the chipmaker's chairman on Tuesday that was reviewed by Reuters.
Third Point CEO Daniel Loeb wrote to Intel chairman Omar Ishrak calling for immediate action to boost the company's position as a major provider of processor chips for PCs and data centers. The New York-based fund has amassed a nearly $1 billion stake in Intel, according to people familiar with the matter.
Loeb said in the letter that Intel's most urgent task was addressing its "human capital management issue", as many of its talented chip designers have fled, "demoralized by the status quo".
Intel ...
Read More on Datafloq
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