BUSINESS

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BUSINESS

China torpedoes Intel's $5.4bn deal

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Deal approval failure

Intel's $5.4 billion acquisition of Israeli chipmaker Tower Semiconductor has been called off due to China's failure to approve the deal before the deadline.

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Growing US-China tension

The failure highlights regulatory challenges amid escalating US-China tensions. The US recently banned American investments in Chinese entities.

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Intel's termination fee

Intel now faces a $353 million termination fee. The deal passed antitrust evaluations in both the US and Europe.

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Foundry division setback

The failed acquisition is a setback for Intel's Foundry Service division, which aims to rival TSMC.

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Multinationals' Dilemma

Beijing's decision presents a new challenge for multinational companies, forcing them to choose between operating in China or pursuing global mergers.