Intel is working with investment bankers to help navigate the most difficult period in its 56-year history.
with investment bankers to help navigate the most difficult period in its 56-year history, according to people familiar with the matter.
Morgan Stanley and Goldman Sachs Group, Intel’s longtime bankers, have been providing advice on the possibilities, which could also include potential M&A, the people said. The discussions have only grown more urgent since the Santa Clara, California-based company delivered a grim earnings report, which sent the shares plunging to their lowest level since 2013.
The various options are expected to be presented during a board meeting in September, the people said. A potential separation or sale of Intel’s foundry division, which is aimed at manufacturing chips for outside customers, would be an about-face for CEO Pat Gelsinger. Gelsinger has viewed the business as key to restoring Intel’s standing among chip makers and had hoped it would eventually compete with the likes of Taiwan’s TSMC, which pioneered the foundry industry.takes a less dramatic step before it reaches that point, such as holding off on some of its expansion plans, the people said.
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