Intel says it is ready to work with Third Point Hedge Fund on Business Focus


Shares of Intel rose on Tuesday as the computer chip giant said it was ready to work with the hedge fund on changes made in its business to increase shareholder value.

Came after market action Intel The activist agreed to receive a letter from Third Point, led by investor Daniel Loeb. Intel rose 4.9 percent to $ 49.39 (approximately Rs. 3,600).

“Intel Corporation welcomes input from all investors regarding improved shareholder value,” said the California tech giant.

“In that spirit, we look forward to engaging with a third point on their ideas towards that goal.”

The third point letter states that Intel should consider our outsourcing of its manufacturing operations to accelerate with rivals in the Taiwan-based sector. TSMC And the South Korean giant Samsung, Among others.

“We suggest retaining an investment advisor named by the board to assess strategic alternatives, including whether Intel should be an integrated device manufacturer and the potential segmentation of some failed acquisitions.”

Although Intel is one of the world’s leading chip companies, it lags behind rivals in fast-growing mobile devices and its chips are being phased out. Apple, Is developing its own microprocessors for it Mac Computers.

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