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Intel Explores Deal To Buy GlobalFoundries For About $30 Bln : Report

Intel Corp. (INTC) is exploring a deal to buy GlobalFoundries Inc. A deal could value GlobalFoundries at about $30 billion, the Wall Street Journal reported citing people familiar with the matter.

The Journal said such a deal would benefit Intel's efforts to make more chips for other tech companies.

The Journal cautioned that there is no guarantee that the deal would be reached, and GlobalFoundries could proceed with a planned initial public offering.

GlobalFoundries is owned by Mubadala Investment Co., an investment arm of the Abu Dhabi government, but based in the U.S.

Any talks don't appear to include GlobalFoundries itself as a spokeswoman for the company reportedly said it isn't in discussions with Intel.

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