News Reporters PH

Intel cancels USD5.4 billion deal to acquire Israeli semiconductor company

Intel has announced that it has decided to walk away from a deal to acquire Israeli firm Tower Semiconductor for USD5.4 billion (~RM25 billion). This comes after it failed to get the necessary regulatory approvals in time.In a statement by Intel, the tech giant revealed that it will be terminating an agreement to acquire Tower Semiconductor, and as such will be paying a termination fee of USD353 million to Tower. Intel had previously announced its intention to acquire Tower …