Intel’s Acquisition of Tower Delayed, Nonetheless Anticipated to Shut by June 2023

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When Intel introduced its proposal to accumulate Tower Semiconductor for $5.4 billion in February 2022, it stated it anticipated to shut the transaction in 12 months. However the transaction remains to be not closed greater than 13 months after the announcement since China’s State Administration for Market Regulation nonetheless has not cleared it. However Intel stays optimistic that it’ll take over Tower by finish of June. 

The primary quarter is about to finish and so Intel Israel this week issued an announcement saying that the corporate will proceed to work towards closing the deal by the top of subsequent week, however the transaction might not be cleared till later — someday within the first half of this yr (by the top of June 2023). 

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