Wealth Magazine Chairman Xie Jinhe said Intel’s acquisition deal failed to drive share price

Taiwan News
Date: 2017/03/20
By: Sophia Yang, Taiwan News, Staff Writer

(by iphonedigital, Flickr)(By Wikimedia Commons)

TAIPEI (Taiwan News) — Taiwan’s Wealth Magazine Chairman Xie Jinhe (謝金河) said

on Facebook Sunday that Taiwan Semiconductor Manufacturing Co. (2330:TT)(TSM:US) topped the world’s largest chip maker Intel Corp. (INTC:US) in terms of market capitalization last week.

Intel’s share price dropped after its US$15.3 billion acquisition of Israeli autonomous vehicle technology firm Mobileye was announced last Monday. The pricey acquisition of Mobileye was said to help Intel branch out to driverless systems for global automakers, but caused its share price to drop and resulted in its market capitalization shrinking to US$167.14 billion, which is smaller than TSMC’s by US$1.9 billion from the American Depositary Receipts (ADRs).    [FULL  STORY]