Intel to Buy McAfee for $7.7 Billion

Intel

(INTC) - Get Report

said it agreed to buy

McAfee

(MFE)

for $7.68 billion, or $48 a share.

McAfee shares closed yesterday at $29.23.

Intel said it "has elevated the priority of security to be on par with its strategic focus areas in energy-efficient performance and Internet connectivity."

Both boards of directors have unanimously approved the deal, which is expected to close after McAfee shareholder approval, regulatory clearances and other customary conditions specified in the agreement, Intel said..

For more information, view the

Intel press release.

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