Intel Calls Off Tower Acquisition, Forced to Focus Solely on Leading-Edge Nodes
Intel Corp. will not proceed with its $5.4 billion deal to acquire Tower Semiconductor foundry due to a lack of regulatory approval from China, the two companies announced on Wednesday. Instead of renegotiating, Intel will pay Tower a $353 million break-up fee to walk away. The move will force Intel to focus the business strategy of its…
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