Intel will abandon its $5.4 billion acquisition of Tower Semiconductor, according to sources.

By Anirban Sen

Intel Corp will walk away from ⁤its $5.4 billion deal to acquire Israeli contract chipmaker ⁢ Tower Semiconductor Ltd once the ​companies’ contract expires later on Tuesday, according to people familiar with the matter.

Intel, which signed the deal‍ to buy‍ Tower in February‍ 2022, did not secure approval from Chinese‍ regulators ⁤for the acquisition as ​required under its contract ⁢with Tower, the sources‍ said.

It does not plan to negotiate an extension ⁣of the contract, and will instead pay​ Tower a‌ $353 million break-up‌ fee to walk away, the sources added.

Intel and Tower ‍declined to comment.

(Reporting by Anirban Sen in New York; Additional reporting by Max Cherney in San Francisco)

Trump promises an Irrefutable Report, while Brian Kemp⁤ says Georgia’s ‍Election are⁢ secure.

The 45th president ⁤has been indicted for the 4th time this​ year, as ​anticipated. Trump denies any wrongdoing in Georgia and has teased a forthcoming report that he claims will lead to new charges being dropped and ‌result in his ‘complete exoneration.’

The death toll in Maui rises to at least ​99 ⁢with hundreds still missing. The fatalities are expected to increase.

Officials in ⁢Fulton County, GA say the “fictitious” indictment that appeared​ on the ⁢county clerks website, ​hours earlier ‍was ​a ‘sample ​working document’.

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