Page 2 - Intel Tower Semiconductor News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 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.

The companies canceled the deal after failing to obtain regulatory approval from China.

Intel and Tower Semiconductor announced a definitive agreement under which Intel will acquire Tower for $53 per share in cash.