Page 49 - Tower Semiconductor News Today

Intel will not pursue acquisition of Tower Semiconductor following delay of Chinese review.

HONG KONG (AP) – A USD5.4 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 (US). It was a mutual decision between Intel and Tower Semiconductor, the companies said on Wednesday. Intel said that the deal […]

Intel continues to advance plans to create world-class system foundry as part of its IDM 2.0 strategy. ... -Today at 03:03 am- MarketScreener

The move for the Israeli company collapsed due to delays to regulatory approval. It's a setback for plans to ramp up its semiconductor-making business.

MIGDAL HAEMEK, Israel, August 16, 2023 –Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM), today announced it has mutually agreed with Intel Corporation to terminate their previously announced merger agreement entered into in February 2022. After careful consideration and thorough discussions and having received no indications regarding certain required regulatory approval, both parties have agreed to terminate their merger agreement having passed the August 15, 2023 outside date. Purs...

Intel Corporation is likely to terminate the $5.4 billion agreement to acquire Israeli contract chipmaker Tower Semiconductor

SANTA CLARA, Calif., Aug. 16, 2023 - Intel Corporation today announced that it has mutually agreed with Tower Semiconductor to terminate its previously disclosed agreement to... -Today at 03:11 am- MarketScreener

Intel has been forced to give up on its planned $5.4 billion acquisition of Israel’s Tower Semiconductor, a leading foundry for analog semiconductor solutions. The reason given was the failure to receive the approval of Chinese regulators for the acquisition. And Vesttoo, an Israeli insurtech startup and a unicorn that has been rocked by recent […]

Intel Corp. said it’s walking away from its attempt to acquire Tower Semiconductor Ltd., abandoning a $5.4 billion deal after failing to win regulatory…

Intel Chief Executive Pat Gelsinger had said he was trying to get the Tower deal approved by Chinese regulators and had visited the country as recently as last month to meet with government officials.