Intel Announces Termination Of Tower Semiconductor Acquisition
08/16/23, 7:06 AM
Location
santa claraIndustry
software
manufacturing
science and engineering
Intel Corporation (Nasdaq: INTC) today announced that it has mutually agreed with Tower Semiconductor (Nasdaq: TSEM) to terminate its previously disclosed agreement to acquire Tower due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement, dated Feb. 15, 2022. In accordance with the terms of the merger agreement and in connection with its termination, Intel will pay a termination fee of $353 million to Tower.
Company Info
Location
1531 el miradero avenue
Santa Clara, California, United States
Company info
Intel is an industry leader, creating world-changing technology that enables global progress and enriches lives. The company continuously works to advance the design and manufacturing of semiconductors to help address customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, Intel unleashes the potential of data to transform business and society for the better.