When you purchase through links on our site, we may earn an affiliate commission.Heres how it works.
Intelfirst announcedthe deal in February 2022.
The purchase was expected to be completed within a year, but the deadline was extended twice.
Tower would have become a key piece of Intel’s IDM 2.0 strategy.
Ultimately, Intel and Tower decided to not go through with the sale due to regulatory roadblocks.
Reuterspredicted that the deal would be terminated since it was not able to receive regulatory approval.
I alsoquestioned if the deal would be approvedby regulators.
That proved true with both companies announcing the end of the planned acquisition.
Intel will pay a $353 million termination fee to Tower.
That figure was up significantly compared to the $57 million in the same period of last year.
That 307% year-over-year increase indicates that IFS can have success even without Tower.
Intel has investedtens of billions of dollarsinto chip manufacturing plants.
