Intel (Nasdaq:INTC) Receives US Approval for McAfee (NYSE:MFE) Deal

Intel Corp. (Nasdaq:INTC) has received approval from the U.S. Federal Trade Commission to go forward with its acquisition of McAfee Inc. (NYSE:MFE).

Now Intel awaits a decision from the European Commission, which, as usual, appears to be holding up another business deal.

The antitrust regulator for the European Union has said behind the scenes that they're concerned over the deal, which implies a lengthy process before giving their approval, assuming they do.

Intel made an offer of $7.68 billion for McAfee Inc., citing the desire to diversify the products of the company and build better security into their chips.

McAfee was trading at $46.38, up $0.33, or 0.71 percent, as of 2:12 PM EST. Intel was trading at $21.19, down $0.03, or 0.16 percent.