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mmoy

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mmoy

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Saturday, 07/26/2014 8:45:13 PM

Saturday, July 26, 2014 8:45:13 PM

Post# of 151655
IBM's bid to sell chip unit falters

SAN FRANCISCO -- IBM's talks to sell its money-losing chip-manufacturing operations to Globalfoundries have ended after the two companies failed to agree on terms, according to people familiar with the process.

Globalfoundries, owned by an investment arm of the government of Abu Dhabi, made an offer that was rejected by IBM as too low, said the people, who asked not to be identified because the negotiations are private. James Sciales, a spokesman for IBM, and Kevin Kimball, a spokesman for Santa Clara-based Globalfoundries, both declined to comment on speculation.

http://www.mercurynews.com/business/ci_26218015/ibms-bid-sell-chip-unit-falters
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