Intel reportedly drops plan to acquire Altera

Late last month rumors circled the web that Intel was in advanced talks to acquire FPGA chip maker Altera. With Altera's current market cap standing over $12.5 billion this deal would have been the largest in Intel's history but now CNBC claims Intel is no longer pursuing an acquisition.

Anonymous sources familiar with the situation claim Intel and Altera couldn't agree on a price and that the firms haven't spoken in over a week. Intel was reportedly willing to pay a figure around the low $50-range per share. In the days before rumors about an acquisition leaked, Altera was trading around $35.

Intel has stopped its talks with Altera about a potential acquisition, according to sources familiar with the situation.

Altera stock fell about 10 percent in pre-market trading. When news of the talks first broke in March, Altera stock posted a 28 percent jump.

The two companies have not spoken in more than a week, sources said, as neither party could agree on a price.