As we learned this morning, the deal is subject to regulatory approval. Turns out getting that approval may be trickier than it seems. EE Times explains:
IBM's ASIC and systems customers include US defense contractors, government agencies, and national labs for which it supplies supercomputers that monitor the US nuclear stockpile.
GlobalFoundries is primarily owned by an investment arm of the government of Abu Dhabi. That triggers a review by the Committee on Foreign Investment in the United States, which could reject or impose conditions on aspects of the deal, and triggers a review from the White House.
In all, the deal needs to be approved by "as many as 200" regulators worldwide. EE Times reckons the process could last "well into 2015."
GlobalFoundries was formed in 2009 after AMD moved to spin off its foundry business. Abu Dhabi's Advanced Technology Investment Company was originally supposed to own 55.6% of the newly formed foundry business, with AMD retaining a 44.4% stake. However, AMD's stake wound up shrinking until, in March 2012, AMD transferred the last of its ownership as part of a new wafer supply agreement.