Intel and Tower Semiconductor cancel $5.4B merger over regulatory hurdles

Intel has called time on its plan to acquire contract chipmaker Tower Semiconductor, citing its inability “to obtain in a timely manner the regulatory approvals required under the merger agreement.”
Chip giant Intel first announced it was planning to buy the Israeli company for $5.4 billion way back in February last year, a move designed to bolster its own contract chip-making business with enhanced manufacturing capacity and intellectual property, while also giving it a wider global reach.
Indeed, Intel revealed plans to invest $20 billion in two new Arizona factories some two yea

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