Intel and Tower Semiconductor have mutually agreed to abandon plans for the former to acquire the Israeli chip manufacturer at $53 per share in cash, which would have valued the now-nixed deal at $5.4 billion. However, it’s not as simple as just parting ways—as part of the merger agreement that was signed in February 2022, Intel will pay a

Source: Hot Hardware – Why Intel Is Walking Away From .4B Deal To Acquire Tower Semiconductor