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Published on Sep 8, 2016
Intel
was right in finally spinning off the majority stake in its security
unit, says TheStreet's Jim Cramer. TPG Capital is joining Intel as a
partner in the chipmaker's cyber security unit. In exchange for a $1.1
billion equity investment, TPG will receive a 51% stake in the business,
which Intel will spin off under the name McAfee. The transaction values
McAfee's total equity at about $2.2 billion, and the entire company,
including debt, at $4.2 billion. That's a steep discount to the $7.68
billion
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