Surprised there wasn't a post on this? This is pretty big news for the chip sector imho.
https://www.techspot.com/news/99807-intel-54-billion-acquisition-tower-semiconductor-called-off.html
https://www.cnbc.com/2023/08/16/intel-scraps-5point4-billion-acquisition-of-tower-semiconductor.html
- Intel on Wednesday terminated its acquisition of Israeli chipmaker Tower Semiconductor, saying it failed to get the required regulatory approval.
- The U.S. chip giant will pay a termination fee of $353 million to Tower.
- Intel announced plans to buy Tower in February 2022 for $5.4 billion. Tower is a contract chipmaker that manufactures semiconductors for other companies.
[link] [comments] https://www.reddit.com/r/stocks/comments/15swwew/intc_intels_54_billion_acquisition_of_tsem_tower/
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