Intel abandons chipmaking acquisition after failing to secure Chinese approval
Illustration by Alex Castro / The Verge
Intel has officially terminated its acquisition of Tower Semiconductor, the Israeli chipmaking company it announced its intention to buy for $5.4 billion in February 2022. In a press release Intel blamed its “inability to obtain… the regulatory approvals required under the merger agreement” in a timely manner, adding that both parties agreed to terminate the deal. Intel had originally hoped to close the transaction in 12 months, but will now pay a termination fee of $353 million to Tower. Читать дальше...