Shares of Intel advanced following a Bloomberg report that Apollo Global Management has offered to make a multibillion-dollar investment in the company.
The stock was up 2.7% at $22.45 in premarket trading. When the market closed Friday, shares had fallen more than 56% since the start of the year but gained 3% during the trading day after The Wall Street Journal reported that Qualcomm had approached Intel about a takeover.
Citing unnamed sources, Bloomberg reported on Sunday that Apollo had indicated interest in investing as much as $5 billion in Intel.
Intel executives are weighing Apollo’s proposal, though the size of the potential investment could change and discussions could fall apart, according to the report.