Intel-backed Altera reportedly prepares an IPO seeking more than $2 billion

Altera is preparing an initial public offering that could raise more than $2 billion, according to Reuters sources. The Intel ($INTC)- and Silver Lake-backed chip business could potentially list before year-end. The report concerns preparations, not a launched offering.

Intel retained a 49% stake after selling control to Silver Lake. A flotation could establish a public valuation for that holding, but proceeds for Intel, the final offering size and the decision to proceed remain unconfirmed.

Sources:

• Reuters — Altera IPO preparations