Intel to Call Off $5.4 Billion Tower Deal Without Chinese Approval

Intel to call off $5.4 billion Tower deal.

China did not approve the acquisition.

The deal was supposed to close on August 15th.

Intel will pay Tower a $353 million break-up fee.

The deal was seen as a way for Intel to expand its chip manufacturing capacity.

The failure of the deal is a blow to Intel's plans to regain its dominance in the chip industry.

It also highlights the challenges of doing business in China.

The deal's collapse is a reminder that geopolitics can play a major role in corporate mergers and acquisitions.

It remains to be seen what Intel will do next to expand its chip manufacturing capacity.

The chip industry is likely to remain volatile in the years to come.