Decision on Intel Acquisition Due in January

Intel Corp. said the Federal Trade Commission will notify the company by Jan. 9 whether it will oppose Intel’s proposed $420-million cash acquisition of semiconductor maker Chips & Technologies Inc. Intel also said it has extended to Jan. 19 its cash tender offer for Chips & Technologies, the biggest maker of products that speed the display of images on laptop computers, the fourth time the world’s largest computer chip maker has done so as the FTC is looking into the proposed acquisition. Intel is seeking to buy Chips & Technologies because the purchase may help further its goal of expanding its sales of microprocessors, the brains of personal computers. Meanwhile, Chips & Technologies shareholders agreed to settle lawsuits over the proposed acquisition in return for more information and a cut in the transaction fees. Chips & Technologies shareholders in Delaware and California had accused executives of shortchanging investors by agreeing to Intel’s cash offer of $17.50 a share. In Nasdaq trading, shares of San Jose-based Chips & Technologies fell 50 cents to $14.38 on Nasdaq; Intel shares rose $1.63 to $72.13.