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tkg

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tkg

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Wednesday, 08/16/2023 5:39:31 AM

Wednesday, August 16, 2023 5:39:31 AM

Post# of 196794
Intel scraps $5.4 billion acquisition of Tower Semiconductor after regulators fail to approve deal
PUBLISHED WED, AUG 16 20234:22 AM EDT

KEY POINTS
*Intel on Wednesday terminated its acquisition of Israeli chipmaker Tower Semiconductor, saying it failed to get the required regulatory approval.
*The U.S. chip giant will pay a termination fee of $353 million to Tower.
*Intel announced plans to buy Tower in February 2022 for $5.4 billion. Tower is a contract chipmaker that manufactures semiconductors for other companies.

https://www.cnbc.com/2023/08/16/intel-scraps-5point4-billion-acquisition-of-tower-semiconductor.html
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