Intel Corp. (INTC) shares rallied 3% on Monday after the chipmaker announced it would sell 51% of its Altera business to Silver Lake. The transaction values the Altera business at $8.75 billion, with ...

In its first major move under new CEO Lip-Bu Tan, Intel is selling a 51 percent stake in Altera to Silver Lake for $4.46 billion.

The investment firm Silver Lake will purchase 51 percent of Altera, a programmable chips company Intel acquired in 2015, for $4.46 billion. The deal comes less than a month after Lip-Bu Tan took over ...