Page 50 - Tower Semiconductor News Today

Tower Semiconductor is seen on smartphone in front of displayed Intel logo in this illustration taken, February 15, 2022. REUTERS/Dado Ruvic/Illustration/File…

Chinese regulators were too slow Intel has announced that it will no longer acquire the Israel-based semiconductor manufacturing company Tower Semicon...

The completion date for Intel's $5.4 billion deal to buy Israel's Tower Semiconductor has passed, but the US chip giant has failed to obtain regulatory approval in China.

The development underscores how tensions between the U.S. and China over issues including trade, intellectual property and the future of Taiwan are spilling over into corporate deal making

The deadline for the transaction, announced in early 2022, is midnight California time on Aug. 15 and the companies don’t anticipate getting approval from China by that time, said the people, who asked not to be identified because the details are private.

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.

Intel Chief Executive Pat Gelsinger says he is trying to get Tower deal approved by Chinese regulators

Chip giant to pay $353 million to terminate acquisition after reportedly failing to receive okay from Chinese regulators as demanded by contract

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Wall Street is drifting, and stocks are mixed a day after their latest tumble. The S&P 500 is 0.1% higher Wednesday, coming off a loss of 1.2%. The Dow rose