Virgin Islands Agreement between Data Systems and Software, Inc., Israel Corp., Ltd. and Tower Semiconductor Holdings 1993, Ltd.
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15, 2022. ? In ance with the terms of the merger agreement and in connection with its termination, Intel will pay a termination fee of $353 million to Tower. Intel Announces Termination of Tower Semiconductor Acquisition intc.com ? press-releases ? detail ? intel-ann... intc.com ? press-releases ? detail ? intel-ann...
Beijing requires mergers involving companies with a major business presence in China to be approved by the State Administration for Market Regulation (SAMR), the antitrust regulator. China is one of Intel's largest markets. The company also houses several factories there.
Intel. "Intel Announces Termination of Tower Semiconductor Acquisition." Intel. "Intel To Acquire Tower Semiconductor for $5.4 Billion."
Intel on Wednesday terminated its acquisition of Israeli chipmaker Tower Semiconductor, saying it failed to get the required regulatory approval. The U.S. chip giant will pay a termination fee of $353 million to Tower. Intel announced plans to buy Tower in February 2022 for $5.4 billion.
$353 million Under the terms of the merger agreement, Intel will pay Tower Semiconductor a reverse termination fee of $353 million. The planned merger, formalized on Feb. 15 2022, failed to receive the green light from the Chinese antitrust regulators before the acquisition agreement deadline expired on Aug. 15, 2023. Intel to Pay $353M as Deal Termination Fee to Tower ... eetimes.eu ? intel-to-pay-353m-as-deal-term... eetimes.eu ? intel-to-pay-353m-as-deal-term...
16, 2023 ? 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.