Apollo Proposes $5 Billion Investment in Intel-Bloomberg By Investing.com

Investing.com– Asset manager Apollo Global Management (NYSE: ) has offered to make an investment of up to $5 billion in beleaguered chipmaker Intel Corporation (NASDAQ: ), Bloomberg reported Sunday.

The asset manager has indicated it would be willing to make a stock-like investment in Intel, the Bloomberg report said, with the chipmaker’s top management considering the offer.

The equity investment would give Intel some much-needed breathing room as the company faces a sharp decline in sales and a potential cash crunch. Intel plans to cut several businesses as part of a major restructuring, with the chip maker announcing job cuts of up to 15,000 workers earlier this year.

Intel may also separate its foundry business from its design business.

Apollo said earlier this year it would acquire a 49 percent stake in a joint venture for Intel’s new manufacturing facility in Ireland for $11 billion.

Reuters reported last week that Qualcomm Incorporated (NASDAQ: ) was considering a takeover of the chip maker, although such a deal was likely to face several regulatory hurdles.

Once the world’s most valuable chipmaker, Intel shares are down 60% so far this year as rivals TSMC (NYSE: ) and NVIDIA Corporation (NASDAQ: ) have hit new highs in recent years.