News Intel's Acquisition of Tower Delayed, Still Expected to Close by June 2023


I'm guessing what's unblocking the acquisition will be for Tower to spin off its facilities inside China. The sticking point might've been trying to find a buyer, negotiate a semi-reasonable price, and work out all the details around what happens to the IP needed for operations. I don't see how Intel can take those on and continue to operate them, but maybe I'm wrong.
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Intel has a habit of buying small tech companies, destroying them then taking a tax write-off a few years later. It seems like very poor management.

This is called "Asset stripping". It happens every day to undervalued businesses in many industries. The buying company/corporation purchases the business, strips it of whatever the purchaser wants. Then the purchaser auctions off the remaining parts of the business, usually making more profit than they paid. There is typically no emotion in it. It is, and in most cases is VERY GOOD management, as it creates profit for the purchasing business, and possibly good business for the seller. Not so much for the employees of the sold company....