Trump says he will continue to make deals like Intel one
Under the agreement, the US will purchase a 9.9% stake in the company for US$8.9 billion
[WASHINGTON] US President Donald Trump on Monday (Aug 25) said that he would make deals with other companies similar to the one he announced last week with Intel.
Trump on Friday said that the US would take a 10 per cent stake in Intel under a deal with the struggling chipmaker that converts government grants into an equity share.
“I will make deals like that for our Country all day long,” Trump said in a post on Truth Social. “I love seeing their stock price go up, making the USA richer, and richer. More jobs for America!” he added.
Trump also said in the post that he would help companies that make similar “lucrative” deals with US states, but did not provide details.
The Intel deal will ensure that the chipmaker will receive about US$10 billion in funds for building or expanding factories in the US.
Under the agreement, the US will purchase a 9.9 per cent stake in Intel for US$8.9 billion, or US$20.47 per share, which represents a discount of about US$4 from Intel’s closing share price of US$24.80 on Friday.
The purchase of the 433.3 million Intel shares will be made with funding from the US$5.7 billion in unpaid grants from the Biden-era Chips Act and US$3.2 billion awarded to Intel for the Secure Enclave programme, also awarded under Trump’s predecessor, Democratic president Joe Biden. REUTERS
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