NEW YORK--(BUSINESS WIRE)--TIG Advisors, LLC (“TIG Advisors”), a stockholder of Altera Corporation (Nasdaq: ALTR) (“Altera” or the “Company”), applauds the Board of Altera (the “Board”) for re-engaging with Intel Corporation (Nasdaq: INTC) (“Intel”) and entering into a definitive agreement under which Intel would acquire Altera for $54 per share in an all-cash transaction.
“We believe that based on our discussions over the past several months with other institutional investors, that this transaction is the outcome that Altera stockholders desired. This is the right deal, at the right time, and at the right price, for both Altera and Intel. TIG Advisors is very grateful to the Board and management of Altera for recognizing and being responsive to stockholders by re-engaging with Intel and arriving at this outcome. We look forward to the completion of the transaction and a successful integration of Altera and Intel,” said Drew Figdor, Portfolio Manager.
About TIG Advisors
TIG Advisors is an SEC-registered investment advisor based in New York City that manages $3 billion of capital across a diverse range of investment strategies primarily for institutional investors, including pension funds, life insurance companies and others. Our Firm, founded in 1980, has long held a goal of working constructively with management teams to help identify, surface and capture value that may not be otherwise apparent to the marketplace.