Intel hires Morgan Stanley to ward off activist investors, with shares down 58% this year.

Intel Corp hires Morgan Stanley to prevent takeover by activist investors due to underperformance against AMD and Nvidia, with Intel's shares dropping 58% this year. Intel CEO Pat Gelsinger focuses on the company's future in foundry services and IDM 2.0 transformation. Morgan Stanley's involvement may include management-favorable board members or granting extra power over shareholdings to deter takeovers.

August 26, 2024
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