Intel to walk away from $5.4 billion acquisition of Tower Semiconductor

Intel Scraps $5.4 Billion Tower Deal After China Review Delay

Intel Corp scrapped its $5.4 billion deal to buy Israeli contract chipmaker Tower Semiconductor Ltd after their merger agreement expired without regulatory approval from China.

Intel drops $5.4 billion deal after China holds up approval: Report

Intel Corp. announced that it is foregoing plans on its $5.4 billion acquisition of Tower Semiconductor Ltd. because it was unable to obtain regulatory permission in time, according to a report by Bloomberg.   According to a statement released on Wednesday, Intel Corporation and Tower Semiconductor have mutually decided to end the agreement made in February 2022. The Israeli firm confirmed that the contract had been terminated. Bloomberg had pre

Intel calls off $5.4 bil Tower deal after failing to obtain regulatory approvals

Intel will terminate a $5.4 billion deal to acquire Israeli chip manufacturer Tower Semiconductor after China failed to sign off on the deal amid rising tensions with the United States. It was a mutual decision between Intel and Tower, the companies said Wednesday. Intel said that the deal was terminated…

Intel’s $5.4 billion international chip deal is off after approval from China never arrives

HONG KONG — A $5.4 billion acquisition of Israeli chip manufacturer by Intel has been called off after China failed to sign off on the deal amid rising tensions with the United States.

Intel is backing off a $5.4 billion deal—and actually paying out a $353 million termination fee—because China just never approved it

Chinese regulators failed to approve the deal by a deadline Wednesday, even after Intel CEO Patrick Gelsinger traveled to China last month to win them over.

Intel scraps $5.4B Tower acquisition after China fails to grant approval

Tower Semiconductor deal was part of Intel's foundry strategy.