IBM Said to Have Offered GF Cash to Take Over Chip Unit - Bloomberg

Another IBM disintegration snapshot, via Charles Fitzgerald

"IBM was offering about $1 billion to persuade Globalfoundries to take the unit, said the person, who asked not to be identified because the negotiations were private. Globalfoundries wanted to be paid about $2 billion, enough to offset the division’s losses, the person said.

IBM’s willingness to pay underscores the urgency for Chief Executive Officer Ginni Rometty to get less profitable businesses off the books. Even so, letting the deal unravel shows Rometty wasn’t willing to exit at any cost."

IBM Said to Have Offered GF Cash to Take Over Chip Unit - Bloomberg