Intel is selling off a majority stake in chip-maker Altera for $4.46 billion

Intel is selling off its majority share in chip-maker Altera as part of its new CEO's first steps toward stabilizing the company. The 51 percent stake sold today for $4.46 billion in a deal that is expected to close in the second half of this year. "Today's announcement reflects our commitment to sharpening our focus, lowering our expense structure and strengthening our balance sheet," CEO Lip-Bu Tan said of the sale. Altera makes field programmable gate array chips, which are often used to powe...