That was a much smaller deal though. A Chinese regulatory block for a $5B acquisition might rise to "not worth it" to Intel. Saying "No more x86 laptops or qualcomm radios in China" is more of a "Trade War!" kind of thing.
That's not saying the China would love it, or that they wouldn't have leverage. But regulatory power has its limits and it's not like every nation gets a veto on every merger.
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How would China block a deal between 2 US companies?
China has a say because both companies do business in China. It’s the reason why the Intel acquisition of Tower semiconductor fell through.
That was a much smaller deal though. A Chinese regulatory block for a $5B acquisition might rise to "not worth it" to Intel. Saying "No more x86 laptops or qualcomm radios in China" is more of a "Trade War!" kind of thing.
That's not saying the China would love it, or that they wouldn't have leverage. But regulatory power has its limits and it's not like every nation gets a veto on every merger.
It was a critical acquisition for Intel to learn how to be a foundry so it was critical.