Intel Confirms Delay in its Acquisition of Tower Semiconductor
Intel's planned purchase of Tower Semiconductor Ltd. has been pushed back by another quarter, as a regulatory decision has not been made by China's State Administration for Market Regulation (SAMR). Intel announced the $5.4 billion deal <a href="https://www.techpowerup.com/292016/intel-reportedly-acquiring-tower-semiconductor-for-usd-6-billion" target="_blank">in mid-February 2022</a>, and set an estimated 12-month window for its completion. It is now one month overdue, with the first quarter of the financial year set to end next week. Intel is hopeful that it will get full regulatory approval by June 2023.<br />
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In light of SAMR not budging since the suspending of its review of the Intel-Tower merger, Intel Israel has issued a response this week: ""While we continue to work to close the Tower transaction within the first quarter of 2023, the transaction may close in the first half of 2023, subject to certain regulatory approvals and customary closing conditions."<div class="imgcontainer"><a href="https://www.techpowerup.com/img/qP4bEWwWG2zWbOQy.jpg" target="_blank" data-width="1920" data-height="1080" ><img src="https://tpucdn.com/img/qP4bEWwWG2zWbOQy_thm.jpg" width="231" height="130" alt="" /></a> <a href="https://www.techpowerup.com/img/tjsq4BwHdebYX8iQ.jpg" target="_blank" data-width="1600" data-height="784" ><img src="https://tpucdn.com/img/tjsq4BwHdebYX8iQ_thm.jpg" width="265" height="130" alt="" /></a> <a href="https://www.techpowerup.com/img/H1tvA1IEjm9mzvCX.jpg" target="_blank" data-width="1600" data-height="784" ><img src="https://tpucdn.com/img/H1tvA1IEjm9mzvCX_thm.jpg" width="265" height="130" alt="" /></a> </div><div class="readmore"><a href="https://www.techpowerup.com/306360/intel-confirms-delay-in-its-acquisition-of-tower-semiconductor">Read full story</a></div>
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