Silverlate is near a deal for Intel's Altera - report

There were several reports over the long weekend suggesting that Intel could be split up and sold off. That has fresh traction with a report from Bloomberg that Silver Lake is near a deal for a stake in Intel's Altera.

Intel bought Altera in an all-cash deal in 2015 worth $16.7 billion. Currently, Intel's market cap is $115 billion but that comes after a 40% rally in the past week on breakup speculation.

Silver Lake is a Silicon Valley private equity firm that has made landmark deals on Dell, Skype, Alibaba, Broadcom and NXP Semiconductors so it knows the space. None of this is a big surprise as reports in January said Silver Lake was in the running.

In any case, INTC is up 13% today and edged further higher after the latest report.