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Intel calls off Tower Semiconductor merger amid hurdles in China

By Yonnex Li ( August 16, 2023, 08:10 GMT | Insight) -- US chipmaker Intel said today it will terminate its proposed $5.4 billion acquisition of Israeli foundry Tower Semiconductor, after the deal failed to obtain China's antitrust approval in time. The case marks yet another high-profile semiconductor deal scuttled by intensifying China-US tensions. US chipmaker Intel said today it will terminate its proposed $5.4 billion acquisition of Israeli foundry Tower Semiconductor, after the deal failed to obtain China's antitrust approval in time....

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