GlobalFoundries Inc, a chipmaker owned by an investment arm of the Abu Dhabi government, is sticking with its plan for an initial public offering next year, according to CEO Tom Caulfield.
Reports that GlobalFoundries is the subject of a takeover bid by Intel Corp are speculation, he said.
“There’s nothing there in that discussion,” Caulfield said Monday, July 19 in an interview with Bloomberg Television. Because the chipmaker is moving toward a share sale, “you can expect a lot of speculation to take place,” he said.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
