China crushes US giant Intel’s acquisition of Israeli Tower Semiconductor
3 years ago by 🇵🇸 Free Palestine 🇵🇸 to c/worldnews
Other sources:
Intel said that the deal was terminated “due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement.”
The deal required approval from a number of regulators worldwide, including those in China. Chinese regulators failed to approve the deal by a deadline Wednesday, even after Intel CEO Patrick Gelsinger traveled to China last month in a bid to win them over.
I'm not sure as the why as I don't see a Tower Semiconductor foundry in China
https://en.m.wikipedia.org/...
Edit: They have an office in China
Also
So what I'm getting from this is that any time Chinese officials are involved, they will prioritize Chinese interests. A surprise to to no one really.
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It's pay walled but how would China enforce that ruling? Ban all of Intel's transactions with Chinese entity? Fines?
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