Intel Acquisition Of Tower Semiconductor Falls Through

Back in February 2022 Intel announced plans to acquire Tower Semiconductor. However, one and a half years later the deal is now being called off due to failure to obtain regulatory approval.

Intel planned to acquire Tower Semiconductor for $5.4 billion but after months of waiting on Chinese regulatory approval and no action, the two companies mutually decided to call off the acquisition. Intel will now pay Tower a $353 million USD termination fee.

Intel wanted to acquire the Israeli based company for broadening its Intel Foundry Services (IFS) expertise into the fabricating specialty technologies.

More details on calling off the acquisition via Intel.com.