Intel to drop its $5.4 billion deal to acquire chipmaker Tower Semiconductor Ltd as China delays approval

Intel to drop its $5.4 billion deal to acquire chipmaker Tower Semiconductor Ltd as China delays approval.

Intel Corporation has decided to terminate its $5.4 billion acquisition agreement, with Tower Semiconductor, a chipmaker.

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The reason behind this decision is the failure to obtain approval from China.

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Intel remains fully committed to improving its foundry business.

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