Chinese regulators have slowed merger approvals of deals by U.S. firms, asking some to make products that they sell in other countries available in China, potentially putting the companies in an "impossible" position as legislation restricting U.S. companies ability to sell in China has been enacted, The Wall Street Journal’s Lingling Wei and Asa Fitch report. According to people close to the process, proposed acquisitions that have been slowed include Intel’s (INTC) $5.2B takeover of Tower Semi (TSEM) and MaxLinear’s (MXL) $3.8B acquisition of Silicon Motion (SIMO). Reference Link
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on INTC:
- Chip Stocks Edge Lower after China Urges Stronger WTO Monitoring of Chip Curbs
- Intel upgraded to Market Perform from Underperform at Bernstein
- Intel price target raised to $32 from $28 at Deutsche Bank
- Intel data center and AI webinar had ‘no big surprises,’ says Morgan Stanley
- Intel price target raised to $35 from $33 at Raymond James