Friday, April 19, 2024
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Intel’s $5.4 billion purchase of Tower Semiconductor is supposed to go through today, but will China block it?



What you need to know

  • Intel announced an agreement to purchase Tower Semiconductor for $5.4 billion in February 2022.
  • Tower produces semiconductors and would help Intel’s IDM 2.0 efforts compete with large players in the industry.
  • The deal was expected to close 12 months after its announcement, but it has been pushed back twice due to China having not approved the purchase.

Intel’s $5.4 billion acquisition of Tower Semiconductor is set to close today, but the deal may not go through as planned. The planned purchase was first announced in February 2022 and was expected to take 12 months to close but it has since been extended twice.

The holdup is due to China’s State Administration for Market Regulation (SAMR) not approving the deal. Intel and Tower extended the planned acquisition from February to June 2023 and then when mid-June rolled around the companies extended the deadline once again.





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