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Third Point Calls on Intel to Explore Strategic Alternatives

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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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