China reportedly hasn't started review of Intel's planned purchase of Tower Semi

Aug. 10, 2022 9:31 AM ETTower Semiconductor Ltd. (TSEM), INTCBy: Joshua Fineman, SA News Editor28 Comments

Entrance of The Intel Museum in Silicon Valley.

JHVEPhoto/iStock Editorial via Getty Images

  • China reportedly hasn't begun its antitrust review of Intel's (NASDAQ:INTC) planned purchase of Tower Semiconductor (NASDAQ:TSEM).
  • China's State Administration for Market Regulation, which was notified of the deal, is said to have met with third parties on Tuesday, according to a Dealreporter item. The outcome of the meeting wasn't known.
  • SAMR is reviewing the deal parties' market shares, Dealreporter said, citing one source familiar.
  • Intel (INTC) agreed to acquire Tower Semi (TSEM) for $53 per share in cash, representing a total enterprise value of ~$5.4B in February.
  • Last Tuesday Tower (TSEM) reported Q2 GAAP EPS of $0.53 beats by $0.02, revenue of $426M in-line.

Recommended For You

Comments (28)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.