The New York-based fund has amassed a nearly $1 billion stake in Intel, according to people familiar with the matter. Intel has lost its pole position in microprocessor manufacturing to Taiwan Semiconductor Manufacturing Co and South Korea’s Samsung Electronics Co Ltd, Loeb wrote in the letter. In a short statement, the Santa Clara, California-based company said, “Intel welcomes input from all investors regarding enhanced shareholder value. Third Point believes that Intel should consider separating its chip design from its semiconductor fabrication plant manufacturing operations, according to the sources. This could include a joint venture in manufacturing, according to sources.

Source: Dhaka Tribune December 29, 2020 19:41 UTC