TITLE

Intel Adds McAfee to Shopping Cart for $7.68B

AUTHOR(S)
Gallagher, Matt
PUB. DATE
August 2010
SOURCE
Red Herring;8/23/2010, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the plan of Intel to acquire McAfee for 7.68 billion U.S. dollars or 48 dollars per share, announced on August 19, 2010. The offer gives a 60% premium over McAfee's stock price of 29.93 dollars a share that traded the previous day. But the stocks of McAfee surged to 47.14 after the announcement but Intel's fell by 3% to 19 dollars. McAfee reported 2 billion dollars in revenue and 80% in gross margins in 2009 while Intel posted its largest quarterly net income in a decade in July 2010.
ACCESSION #
53129525

 

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