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Citing a source close to the situation, the New York Post first reported last week that Intel could pay as much as $54 a share—a 15 percent premium over Altera's Thursday closing price of $46.97.
Over the weekend, both The New York Times and Wall Street Journal also reported that a deal between the companies was near. The Journal, citing sources familiar with the situation, valued the deal at around $17 billion.
If the deal does go ahead, it would be the biggest acquisition for $160-billion-market-cap Intel, according to the New York Post, and could help it move away from PC sales into faster-growing sectors like Altera's data center programmable chips.
Read MoreCNBC reported earlier this month that the two companies had resumed talks about a possible deal, after earlier negotiations had fallen through in April.
"A deal is likely by the end of next week," the Post quoted the source as saying. The source also cautioned that the talks could still fall apart.
You can read the full report here.
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