AP with this report on a deal between a US and Israeli firm scuttled by China.
- A $5.4 billion acquisition of Israeli chip manufacturer by Intel has been called off after China failed to sign off on the deal amid rising tensions with the United States.
- The deal required approval from a number of regulators worldwide, including those in China. Chinese regulators failed to approve the deal by a deadline Wednesday, even after Intel CEO Patrick Gelsinger traveled to China last month in a bid to win them over.
Tense relations between the US and China are playing out in many ways, this is one of them.
