Donald Trump announced on Friday that the United States will gain 10% in Intel (Intc.O) through an agreement with the Microchip manufacturer, and further similar moves are being planned, marking the most recent unusual White House intervention in business. The US has agreed to buy 9.9% Intel shares instead of $ 8.9 billion at $ 20.47 per share, ie about $ 4 lower than Intel’s closing price on Friday, which was $ 24.80 per share. The government will fund the market for $ 433.3 million with funds from $ 5.7 billion in unused Chips Act subsidies and $ 3.2 billion given to Intel for the Secure Enclave program. Intel’s shares fell 1.2% to Friday’s later trade. Trump is expected to meet with Intel Managing Director, Lip-Bu Tan later on Friday, according to a White House official. This evolution comes after meeting of Tan with […]
Source: News Beast
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