INTEL: Intel Nixes $5.4 B Purchase of Tower Semiconductor

By Staff Reporters

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Intel said yesterday it had agreed to ditch a deal to buy Israeli chip manufacturer Tower Semiconductor (and pay Tower a $353 million fee) after Chinese regulators failed to conduct a required antitrust review of the acquisition before a crucial deadline.

The scuttled purchase comes amid tension between the US and China over technology, especially chips, which the Biden administration has worked to restrict China’s access to them.

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