Regulatory hurdles compel Intel, Tower Semiconductor to scrap $5.4bn deal
Intel Corporation has confirmed its decision to abort the planned $5.4 billion acquisition of Tower Semiconductor (Nasdaq: TSEM), pointing to unexpected delays in obtaining necessary regulatory approvals. Originating from a merger agreement formalized on February 15, 2022, Intel now owes Tower Semiconductor a hefty termination fee amounting to $353 million as per the stipulated terms. […]