Intel's $5.4B acquisition of Tower Semiconductor terminated

Intel's planned $5.4 billion acquisition of Tower Semiconductor has been terminated due to failure to obtain regulatory approvals from China. Intel will pay a $353 million termination fee to Tower.

“Intel said in a statement late Tuesday said that the two companies mutually agreed to terminate the deal 'due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement.'”computerworld.com

• 2 sources
• computerworld.comIntel’s Tower Semiconductor acquisition fails, as China withholds OK – ComputerworldAnirban GhoshalAug 16, 2023
• kioncentralcoast.comIntel calls off $5.4 billion chip deal after failing to get regulatory approval – KION Central CoastCNN NewsourceAug 17, 2023

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