Good morning. What has just happened? Just 15 days after President Trump published this CEO of Intel “very conflicting and must be resigned”, it seems that the two men have become the best buds, and the United States sent $ 8.9 billion for a 9.9 % stake in the company. Then, yesterday, the director of the National Economic Council, Kevin Haysit, told CNBC, “I am sure that at some point there will be more transactions, if not in this industry, in other industries.” The deal was likened to “a batch offered to the sovereign wealth fund.”
But why? Why now? What next?
For answers, I spoke with three government investment experts in companies. Three topics came – although the answers were difficult to find.
This deal is like nothing else. “It is completely unusual, if not unprecedented, the United States government takes an important royal share in a major company in the United States, especially in a strategic industry,” says Douglas Ridker, lawyer and economists with long experience in global financing and global wealth funds and its impact on foreign policy. “The thing that, for me, is shocking and unbelievable is that it begins as an attack on the executive director who is completely based on potential self-trading, which may be true, may not be true-but if this is the problem, it cannot be solved by giving some shares to the government,” says Luigi Zengalis, a professor at the University of Chicago University’s Business College. ”
The goal of the deal is far from clear. William Megneson, a professor at the College of Business Administration at Oklahoma University, has discussed the privatization of state -owned companies and sovereign wealth funds. It indicates that the $ 8.9 billion paid to Intel is to provide money for Intel in Chips The verb, so “the government does not bring any new capital.” But then, “What He is The government is attending if the capital does not reach the academic form in Taiwan, which may invest up to $ 40 billion this year – three or four times, what can Intel spend? Zingales says, “This is the biggest problem. If you have a goal, you can say it is right, wrong, possible or not possible. But without a clear goal, it is a kind of chaos. “
Intel’s competitors will not like this deal, and they cannot know what to expect. “Are we now in an era in which the United States government is making the national heroes literally, and if so, what does he say to other companies?” He asks to re -re -repeat. “Does this mean that INTEL will now get preferential treatment, for example, government contracts? If you are Intel, you may scratch your head and say, we may want to go in a different direction if we will be at risk or deprived because Intel is now the preferred son of the industry.”
If you are the CEO, you have worked with Intel in the past (or competing with them), I will be a special curious to hear your thoughts about the situation. You can contact me via email directly on [email protected].
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