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Will Intel (INTC) Stock Be Helped by $4.2 Billion McAfee Deal?

NEW YORK (TheStreet) -- Intel (INTC) is nearing an agreement to sell a majority stake in its McAfee computer security unit to the San Francisco-based private equity investment firm TPG Capital for as much as $4.2 billion including debt.

TPG would take a 51% stake in the business while the Santa Clara, CA-based chipmaker will maintain a 49% stake, sources said, according to MarketWatch. The deal could be announced as soon as today.

Intel purchased McAfee in 2011 for $7.7 billion as the company sought to diversify its portfolio, MarketWatch reports.

Shares of Intel were lower in...