Tag: russell ellwanger

HONG KONG: 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.It was a mutual decision between Intel and Tower, the companies said Wednesday.Intel said that the deal was terminated “due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement.”Intel Corp. will pay Tower a termination fee of USD 353 million, the US semiconductor giant said.The deal required regulatory approval...