1. Third Point Calls on Intel to Explore Strategic Alternatives

    Third Point Calls on Intel to Explore Strategic Alternatives

    Activist hedge fund Third Point LLC pressed Intel Corp. to make sweeping strategic changes after a year in which the U.S. semiconductor giant suffered more product delays and lost its rank as America's highest-valued chip company. In a letter Tuesday to Intel Chairman Omar Ishrak, Third Point Chief Executive Daniel Loeb said Intel's woes could threaten the U.S. tech industry and urged the chip maker to consider alternatives, including selling some of its acquisitions and splitting its design and manufacturing operations -- a move that would end Intel's long-held status as America's ...

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    1. Without immediate change at Intel, we fear that America's access to leading-edge semiconductor supply will erode, forcing the U.S. to rely more heavily on a geopolitically unstable East Asia to power everything from PCs to data centers to critical infrastructure and more.
    2. You must be able to offer new independent solutions to retain those customers rather than have them send their manufacturing away.
    3. Stakeholders will no longer tolerate such apparent abdications of duty.
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