Intel to walk away from $5.4 billion acquisition of Tower Semiconductor - Report
Investors had given up hope on the Tower deal as a result. Tower's Nasdaq-listed shares ended trading at $33.78 on Tuesday, a steep discount from the $53 per share deal price.
Intel's foundry business reported revenue of $232 million, up from $57 million a year earlier, as it made advances on rivals such as industry leader Taiwan Semiconductor Manufacturing Co. (Image credit: Reuters)