Intel (INTC) is ending its $5.4 billion deal to buy Tower Semiconductor (TSEM) after failing to get Chinese regulatory approval. As part of the deal's termination, Intel will pay Tower a $353 million fee. Yahoo Finance's Brad Smith and Diane King Hall break down the story. 

This would have been a help to Intel’s foundry services plan, but on the other hand, they really don’t need a lot of new debt right now.