TSEM - China reportedly hasn't started review of Intel's planned purchase of Tower Semi
- China reportedly hasn't begun its antitrust review of Intel ( NASDAQ: INTC )'s 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.
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China reportedly hasn't started review of Intel's planned purchase of Tower Semi