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semiconductors

Intel Drops Plan to Acquire Tower Semiconductor After China Objects

By
Scott Thurm
· · Source: Bloomberg

Intel abandoned its $5.4 billion planned acquisition of Israel’s Tower Semiconductor after failing to win Chinese regulatory approval in time. Intel and Tower mutually agreed to terminate the February 2022 agreement, it said in a statement Wednesday. The Israeli firm confirmed the deal was scrapped. The purchase of the Israeli company was the keystone of Intel CEO Pat Gelsinger’s plan to...

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