Skadden Advises Intel On President Deal, Because What Are A Few Obvious Conflicts Among Friends?
Intel recently consented to transfer ownership of about 10% of the company to the federal government. According to reports, the federal government is required to vote with the board on the common stock agreement unless the board is voting to sabotage the agreement. The agreement fulfills the CHIPS Act, which authorizes $280 billion in subsidies to support the domestic semiconductor sector.