Report: Price Of 'Old' IBM Plants Derailed Sale To GlobalFoundries

Jul 25, 2014

A report published by Bloomberg news say talks between IBM and GlobalFoundries over the sale of Big Blue’s chip making division, including facilities in Essex Junction, broke down over price.  

Bloomberg cites sources “familiar with the process.”  The report says at issue were IBM’s manufacturing plants, which GlobalFoundries “placed little or no value on” due to their age.

Rumors of a deal between the two companies have been circulating since April.

IBM and GlobalFoundries have never confirmed that talks were taking place.