18-08-2023, 01:03 PM
Gareth Corfield
Wed, 16 August 2023 at 8:33 pm SGT
......
Intel, one of America’s biggest computer chipmakers, was forced to walk away from a planned buyout of Israel’s Tower Semiconductor on Wednesday.
The US company said it had called off the deal because it was unable to obtain “the regulatory approvals required” from China.
......
American officials recently introduced a ban on US investors backing sensitive hi-tech companies in China, triggering fresh retaliation from Beijing.
Intel chief executive Pat Gelsinger had hoped the Tower deal would help it break into the semiconductor foundry market by acquiring the firm’s manufacturing expertise.
Instead, Intel will now have to pay a termination fee of US$353m to Tower, as confirmed on Wednesday.
Bernstein analyst Stacy Rasgon said the deal’s failure would be a setback for Intel.
......
“Overall, Intel’s foundry efforts were never going to be easy even with Tower, but now may prove to be even more challenging without.”
......
Trade relations between the US and China had been showing signs of improving this year, despite American officials sending mixed messages in public.
https://sg.finance.yahoo.com/news/china-...50956.html
Wed, 16 August 2023 at 8:33 pm SGT
......
Intel, one of America’s biggest computer chipmakers, was forced to walk away from a planned buyout of Israel’s Tower Semiconductor on Wednesday.
The US company said it had called off the deal because it was unable to obtain “the regulatory approvals required” from China.
......
American officials recently introduced a ban on US investors backing sensitive hi-tech companies in China, triggering fresh retaliation from Beijing.
Intel chief executive Pat Gelsinger had hoped the Tower deal would help it break into the semiconductor foundry market by acquiring the firm’s manufacturing expertise.
Instead, Intel will now have to pay a termination fee of US$353m to Tower, as confirmed on Wednesday.
Bernstein analyst Stacy Rasgon said the deal’s failure would be a setback for Intel.
......
“Overall, Intel’s foundry efforts were never going to be easy even with Tower, but now may prove to be even more challenging without.”
......
Trade relations between the US and China had been showing signs of improving this year, despite American officials sending mixed messages in public.
https://sg.finance.yahoo.com/news/china-...50956.html